Commodity Watch: Copper futures gain on firm spot demand
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New Delhi: Copper prices on Thursday rose 0.02 per cent to Rs726.75 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in February traded higher 15 paise or 0.02 per cent at Rs726.75 per kg in a business turnover of 1,998 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures in red
Aluminium futures declined 55 paise to Rs200.90 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On MCX, aluminium for delivery in March fell 55 paise or 0.27 per cent to Rs200.90 per kg in 3,034 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
