Commodity Watch: Muted demand for copper futures

New Delhi: Copper futures on Thursday fell 2.25 per cent to Rs883.20 per kilogram as participants cut their positions amid a muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for June delivery eased Rs20.35 or 2.25 per cent to Rs883.20 per kg in a business turnover of 5,887 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 in red

Aluminium prices declined by 1.46 per cent to Rs246.45 per kg in the futures market as participants trimmed their positions on a weak trend in spot markets. On MCX, aluminium for delivery in June fell Rs3.65 or 1.46 per cent to Rs246.45 per kg in a trading volume of 3,762 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries pulled down aluminium prices.