Commodity Watch: Unabated offloading in copper futures
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Copper futures on Friday fell 0.12 per cent to Rs897.35 per kilogram as participants cut their positions amid a muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for May delivery eased Rs1.10 or 0.12 per cent to Rs897.35 per kg in a business turnover of 4,298 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 sluggish on weak spot demand
Aluminium prices declined by 0.29 per cent to Rs238.45 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 70 paise or 0.29 per cent to Rs238.45 per kg in a trading volume of 3,161 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries pulled down aluminium prices.
