Commodity Watch: Copper Futures Reeling Under Pressure

New Delhi: Copper futures on Wednesday fell 0.24 per cent to Rs796.50 per kilogram as participants reduced their positions amid muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for February delivery eased by Rs1.90 or 0.24 per cent to Rs796.50 per kg in a business turnover of 1,034 lots. Analysts said trimming of positions by speculators amid muted demand in the spot market mainly dragged down copper prices in the futures trade.

Aluminium futures fall on low demand

Aluminium prices slipped 10 paise to Rs242.05 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 10 paise or 0.04 per cent to Rs242.05 per kg in 432 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.