Commodity Watch: Muted demand for copper futures
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Copper futures on Wednesday fell 1.89 per cent to Rs917.45 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 Rs17.70 or 1.89 per cent to Rs917.45 per kg in a business turnover of 3,566 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 easing on weak spot mkt
Aluminium prices declined by 0.87 per cent to Rs245.50 per kg in the futures market as participants trimmed their positions on a weak trend in spot markets. On MCX, aluminium for delivery in May fell by Rs2.15 or 0.87 per cent to Rs245.50 per kg in a trading volume of 1,801 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries pulled down aluminium prices.
