Commodity Watch: Copper futures gain on firm spot demand
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Copper prices on Wednesday rose 0.15 per cent to Rs908.85 per kilogram in the futures market on the back of higher spot demand. On Multi Commodity Exchange (MCX), copper contracts for delivery in June traded higher Rs1.40 or 0.15 per cent at Rs908.85 per kg in a business turnover of 5,550 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures rise on fresh bets
Aluminium prices rose 1.28 per cent to Rs 249.80 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for June delivery increased Rs3.15 or 1.28 per cent to Rs249.80 per kg in a business turnover of 3,637 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
