Commodity Watch: Fresh bets push up prices of cottonseed oil cake

Cottonseed oil cake prices on Friday rose Rs 31 to Rs 2,516 per quintal in futures trade as speculators created fresh positions amid a higher demand. On the National Commodity and Derivatives Exchange, cottonseed oil cake for February delivery traded higher Rs 31, or 1.23 per cent, at Rs 2,516 per quintal with an open interest of 2,380 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.

Zinc futures see high demand

New Delhi: Zinc prices on Friday rose 70 paise to Rs 211.55 per kilogram in the futures trade amid a pick up in spot demand. On the Multi Commodity Exchange, zinc contracts for February delivery traded higher 70 paise or 0.33 per cent at Rs 211.55 per kg with a business turnover of 3,935 lots. Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries kept zinc prices higher in the futures trade

Copper futures gain on higher demand

Copper prices on Friday rose 0.5 per cent to Rs 718.30 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange, copper contracts for delivery in February traded higher Rs 3.55 or 0.5 per cent at Rs 718.30 per kg in a business turnover of 4,036 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures down on low demand

New Delhi: Aluminium prices on Friday declined 30 paise to Rs 199.75 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in February fell 30 paise or 0.15 per cent to Rs 199.75 per kg in 2,845 lots.