Commodity Watch: Copper futures gain on firm spot demand
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Copper prices on Monday rose 0.02 per cent to Rs871.95 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in June traded higher 15 paise or 0.02 per cent at Rs871.95 per kg in a business turnover of 6,352 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures declining
Aluminium prices declined by 0.06 per cent to Rs240.75 per kg in the futures market as participants trimmed their positions on a weak trend in spot markets. On MCX, aluminium for delivery in June fell 15 paise or 0.06 per cent to Rs240.75 per kg in a trading volume of 3,762 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries pulled down aluminium prices.
