Commodity Watch: Muted demand for copper futures

New Delhi: Copper futures on Tuesday fell 0.54 per cent to Rs869.20 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 Rs4.75 or 0.54 per cent to Rs869.20 per kg in a business turnover of 6,245 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.

Selling in aluminium futures

Aluminium prices declined 0.65 per cent to Rs236.20 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 Rs1.55 or 0.65 per cent to Rs236.20 per kg in 4,331 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.