Commodity Watch: Copper futures gain on firm spot demand

New Delhi: Copper prices on Wednesday rose 1.22 per cent to Rs803.65 per kilogram in the futures market on the back of higher spot demand. On Multi Commodity Exchange (MCX), copper contracts for delivery in August traded higher Rs9.65 or 1.22 per cent at Rs803.65 per kg in a business turnover of 13,755 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures further rise

Aluminium prices climbed 0.64 per cent to Rs210.80 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for August delivery increased Rs1.35 or 0.64 per cent to Rs210.80 per kg in a business turnover of 5,184 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.