Aluminium futures rise on industrial demand

New Delhi: Aluminium prices on Wednesday climbed 0.46 per cent to Rs206.05 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the Multi Commodity Exchange (MCX), aluminium contracts for November delivery increased by 95 paise or 0.46 per cent to Rs206.05 per kg in a business turnover of 2,906 lots. Analysts said fresh positions created by traders amid a demand from consuming industries supported aluminium prices in the futures market.

Copper futures gain ground

Copper prices on Wednesday rose 0.23 per cent to Rs709.80 per kilogram in the futures market on the back of higher spot demand. On MCX, copper contracts for delivery in November traded higher by Rs1.65 or 0.23 per cent at Rs709.80 per kg in a business turnover of 5,941 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Cottonseed oil cake futures rise

Cottonseed oil cake prices rose by Rs34 to Rs2,911 per quintal in futures trade as speculatoRscreated fresh positions amid higher demand. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery traded higher by Rs34 or 1.17 per cent at Rs2,911 per quintal with an open interest of 41,640 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.

Guar gum futures up on spot demand

Guar gum prices increased Rs300 to Rs11,125 per five quintals in futures trade as speculators increased their holdings amid a firm spot demand. On NCDEX, guar gum contracts for November delivery traded higher by Rs300 or 2.70 per cent at Rs11,125 per five quintals with an open interest of 570 lots. Analysts said after tracking a firm physical market trend, traders raised their bets, which led to the rise in guar gum prices.