Commodity Watch: Copper futures in red over muted demand
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Copper futures on Tuesday fell 0.5 per cent to Rs931.80 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for May delivery eased Rs4.70 or 0.5 per cent to Rs931.80 per kg in a business turnover of 4,295 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.
Aluminium futures rise on fresh bets
Aluminium price rose 0.41 per cent to Rs243.45 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for May delivery increased Re1 or 0.41 per cent to Rs243.45 per kg in a business turnover of 2,352 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
