Commodity Watch: Copper Futures Reeling Under Pressure

New Delhi: Copper futures on Wednesday fell 0.38 per cent to Rs823.85 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 Rs3.15 or 0.38 per cent to Rs823.85 per kg in a business turnover of 6,552 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 75 paise to Rs246.60 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 75 paise or 0.3 per cent to Rs246.60 per kg in 3,027 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Zinc futures decline on weak demand

Zinc prices fell Rs1.10 to Rs264.20 per kilogram in futures trade as speculators reduced their exposure, tracking negative cues from the spot market. On MCX, zinc contracts for February delivery declined Rs1.10 or 0.41 per cent to Rs264.20 per kg in 3,498 lots.