Commodity Watch: Copper Futures Gain On Firm Spot Demand

New Delhi: Copper futures on Thursday rose 0.65 per cent to Rs855.50 per kilogram on the back of higher spot demand. On Multi Commodity Exchange (MCX), copper contracts for March delivery climbed Rs5.50 or 0.65 per cent to Rs855.50 per kg in a business turnover of 1,431 lots. Analysts attributed the rise in copper prices to higher bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices rose Rs1.35 to Rs255.25 per kilogram in the futures market as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium for delivery in March increased Rs1.35 or 0.53 per cent to Rs255.25 per kg in 584 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Zinc futures rise on high demand

Zinc prices rose Rs2.20 to Rs271.30 per kilogram in the futures trade amid a pick-up in spot demand. On MCX, zinc contracts for March delivery traded higher by Rs2.20 or 0.82 per cent at Rs271.30 per kg with a business turnover of 414 lots. Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries kept zinc prices higher in the futures trade.