Commodity Watch: Copper futures still in red on muted demand

New Delhi: Copper futures on Tuesday marginally fell 15 paise to Rs731.80 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for February delivery eased by 15 paise or 0.02 per cent to Rs731.80 per kg in a business turnover of 4,661 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 fall as spot demand eases

Aluminium prices marginally declined five paise to Rs204.10 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 marginally fell by 5 paise or 0.02 per cent to Rs204.10 per kg in 3,713 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices grew Rs30 to Rs2,472 per quintal in futures trade as speculators created fresh positions amid a higher demand. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for February delivery traded higher by Rs30, or 1.21 per cent, at Rs2,472 per quintal with an open interest of 51,730 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.

Coriander futures rise

Coriander prices rose Rs30 to Rs7,730 per quintal in futures trade as speculators increased their holdings, tracking a firm trend in the spot market. On NCDEX, coriander contracts for April delivery traded higher by Rs30, or 0.39 per cent, at Rs7,730 per quintal with an Open Interest of 20,090 lots.