Commodity Watch: Muted demand for copper futures

New Delhi: Copper futures on Monday fell 0.87 per cent to Rs789.75 per kilogram as participants cut their positions amid a muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for August delivery eased by Rs6.90 or 0.87 per cent to Rs789.75 per kg in a business turnover of 13,719 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 Rs1.40 to Rs211.10 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 August fell Rs1.40 or 0.66 per cent to Rs211.10 per kg in 4,998 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.