Commodity Watch: Copper futures gain on higher demand
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Copper prices on Monday rose 0.87 per cent to Rs877.35 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 Rs7.60 or 0.87 per cent at Rs877.35 per kg in a business turnover of 6,824 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures rise on fresh bets
Aluminium prices on Monday rose 0.54 per cent to Rs232.10 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 Rs1.25 or 0.54 per cent to Rs232.10 per kg in a business turnover of 4,142 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
