Commodity Watch: Tepid Demand For Copper Futures

New Delhi: Copper futures on Tuesday fell 0.62 per cent to Rs859.95 per kilogram as participants reduced their positions amid muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for March delivery eased by Rs5.40 or 0.62 per cent to Rs859.95 per kg in a business turnover of 1,847 lots. Analysts said trimming of positions by speculators amid muted demand in the spot market mainly dragged down copper prices in the futures trade.

Aluminium futures fall

Aluminium prices slipped Re1 to Rs257.20 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 March fell Re1 or 0.39 per cent to Rs257.20 per kg in 944 lots.

Zinc futures decline

Zinc prices fell 0.82 per cent to Rs270.90 per kilogram in futures trade as speculators reduced their exposure, tracking negative cues from the spot market. On MCX, zinc contracts for February delivery traded Rs2.25 or 0.82 per cent lower at Rs270.90 per kg in 600 lots. Analysts said the trimming of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.