Commodity Watch: Copper futures in focus
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New Delhi: Copper prices on Tuesday rose 0.28 per cent to Rs722.15 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in February traded higher Rs2 or 0.28 per cent at Rs722.15 per kg in a business turnover of 2,739 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures declining
Aluminium futures declined Rs1.70 to Rs195.75 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On MCX, aluminium for delivery in February fell Rs1.70 or 0.86 per cent to Rs195.75 per kg in 2,829 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Cottonseed oil futures decline
Cottonseed oil cake prices on Tuesday decreased Rs 44 to Rs 2,594 per quintal in futures trade as participants reduced their bets following weak trends in spot markets.
