Commodity Watch: Copper futures gain on firm spot demand

Copper prices on Monday rose 0.51 per cent to Rs858 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 Rs4.35 or 0.51 per cent at Rs858 per kg in a business turnover of 6,909 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures in red

Aluminium prices declined by 0.25 per cent to Rs235 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 60 paise or 0.25 per cent to Rs235 per kg in a trading volume of 3,451 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries pulled down aluminium prices.