Copper Futures Surge as Global Demand Soars: Commodity Watch Highlights

Copper prices on Tuesday rose 0.25 per cent to Rs716.65 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange, copper contracts for delivery in January traded higher by Rs1.80 or 0.25 per cent at Rs716.65 per kg in a business turnover of 3,295 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices on Tuesday climbed 0.74 per cent to Rs197.60 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for January delivery increased by Rs1.45 or 0.74 per cent to Rs197.60 per kg in a business turnover of 2,245 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 on Tuesday rose Rs1.95 to Rs 221.30 per kilogram in the futures trade amid a pickup in spot demand. On the Multi Commodity Exchange, zinc contracts for January delivery traded higher by Rs1.95 or 0.89 per cent at Rs221.30 per kg with a business turnover of 1,403 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.

Guar gum futures fall on low demand

Guar gum prices on Tuesday dropped Rs259 to Rs10,732 per five quintals in the futures market as traders offloaded their holdings in line with a weak trend in the spot market. On the National Commodity and Derivatives Exchange, guar gum for February delivery fell Rs259 or 2.41 per cent to Rs10,732 per five quintals in 50,175 lots.