Commodity Watch: Copper futures gain on firm spot demand

New Delhi: Copper prices on Wednesday rose 0.44 per cent to Rs855.30 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 Rs3.75 or 0.44 per cent at Rs855.30 per kg in a business turnover of 4,636 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures in focus

Aluminium prices climbed 0.17 per cent to Rs205.45 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for February delivery increased by 35 paise or 0.17 per cent to Rs205.45 per kg in a business turnover of 3,703 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.