Commodity Watch: Copper futures gain on renewed demand
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Copper prices on Monday rose 0.11 per cent to Rs892.60 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in June traded higher 95 paise or 0.11 per cent at Rs892.60 per kg in a business turnover of 5,206 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures in focus
Aluminium futures rose 0.89 per cent to Rs243.25 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for June delivery increased Rs2.15 or 0.89 per cent to Rs243.25 per kg in a business turnover of 3,323 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
