Commodity Watch: Copper futures turn sluggish

New Delhi: Copper futures on Friday fell 0.42 per cent to Rs849.50 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for May delivery eased Rs3.55 or 0.42 per cent to Rs849.50 per kg in a business turnover of 6,777 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.

Muted demand for aluminium futures

Aluminium prices declined 0.34 per cent to Rs231.15 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 May fell 80 paise or 0.34 per cent to Rs231.15 per kg in 4,215 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.