Commodity Watch: Copper futures reeling under pressure
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New Delhi: Copper futures on Monday fell 20 paise to Rs720.50 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for January delivery eased by 20 paise or 0.03 per cent to Rs720.50 per kg in a business turnover of 5,856 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 in red
Aluminium prices declined 95 paise to Rs204.50 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 January fell by 95 paise or 0.46 per cent to Rs204.50 per kg in 4,223 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 decreased Rs18 to Rs2,727 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for January delivery fell Rs18 or 0.66 per cent to Rs2,727 per quintal with an open interest of 27,590 lots. Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.
