Commodity Watch: Copper futures gain on higher demand
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Copper prices on Wednesday rose 0.59 per cent to Rs 846.50 per kilogram in the futures market on the back of higher spot demand.
On the Multi Commodity Exchange, copper contracts for delivery in May traded higher Rs 5 or 0.59 per cent at Rs 846.50 per kg in a business turnover of 4,854 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures rise on fresh bets
Aluminium prices on Wednesday rose 0.72 per cent to Rs 237.70 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 May delivery increased Rs 1.70 or 0.72 per cent to Rs 237.70 per kg in a business turnover of 3,644 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
