Commodity Watch: Muted demand for Copper futures
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Copper futures on Tuesday fell by 1.48 per cent to Rs838.05 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for April delivery eased Rs2.65 or 1.48 per cent to Rs838.05 per kg in a business turnover of 4,374 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 under pressure
Aluminium prices declined 1.4 per cent to Rs239.95 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 Rs3.40 or 1.4 per cent to Rs239.95 per kg in 3,162 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
