Commodity Watch: Muted demand for copper futures

Copper futures on Thursday fell 0.25 per cent to Rs852.85 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 Rs2.15 or 0.25 per cent to Rs852.85 per kg in a business turnover of 6,854 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 on recovery path

Aluminium prices rose 0.28 per cent to Rs 233 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for May delivery increased 65 paise or 0.28 per cent to Rs233 per kg in a business turnover of 3,930 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.