Commodity Watch: Copper futures in red
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Copper futures on Thursday fell 1.59 per cent to Rs881.90 per kilogram as participants cut their positions amid a muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for May delivery eased Rs14.25 or 1.59 per cent to Rs881.90 per kg in a business turnover of 3,566 lots. Analysts said trimming of positions by speculators amid a muted demand in the spot market mainly dragged down copper prices in the futures trade.
Offloading in aluminium futures continues
Aluminium prices declined by 1.66 per cent to Rs237.50 per kg in the futures market as participants trimmed their positions on a weak trend in spot markets. On MCX, aluminium for delivery in May fell by Rs4 or 1.66 per cent to Rs237.50 per kg in a trading volume of 1,801 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries pulled down aluminium prices.
