Commodity Watch: Copper futures reeling under pressure

New Delhi: Copper futures on Friday fell 0.56 per cent to Rs851.20 per kilogram as participants cut their positions amid a muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for July delivery eased by Rs4.80 or 0.56 per cent to Rs851.20 per kg in a business turnover of 7,957 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 remain sluggish

Aluminium prices declined 55 paise to Rs227.90 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 July fell 55 paise or 0.24 per cent to Rs227.90 per kg in 3,511 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.