Commodity Watch: Renewed Buying In Copper Futures

Copper futures on Friday rose 0.58 per cent to Rs837.20 per kilogram on the back of higher spot demand. On Multi Commodity Exchange (MCX), copper contracts for February delivery climbed Rs4.85 or 0.58 per cent to Rs837.20 per kg in a business turnover of 4,778 lots. Analysts attributed the rise in copper prices to higher bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices rose Rs2.10 to Rs253.05 per kilogram in the futures market as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium for delivery in February increased Rs2.10 or 0.84 per cent to Rs253.05 per kg in 2,575 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Zinc futures in focus

Zinc prices rose Rs2.45 to Rs274.05 per kilogram in the futures trade amid a pick-up in spot demand. On MCX, zinc contracts for February delivery traded higher by Rs2.45 or 0.9 per cent at Rs274.05 per kg with a business turnover of 2,148 lots.

Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries kept zinc prices higher in the futures trade.

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