Commodity Watch: Copper futures turn sluggish
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Copper futures on Tuesday fell 1.01 per cent to Rs871.20 per kilogram as participants cut their positions amid a muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for June delivery eased Rs8.90 or 1.01 per cent to Rs871.20 per kg in a business turnover of 5,741 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 rise on fresh bets
Aluminium prices rose 0.1 per cent to Rs241.05 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for June delivery increased 25 paise or 0.1 per cent to Rs241.05 per kg in a business turnover of 3,276 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
