Commodity Watch: Copper futures continue to gain

New Delhi: Copper prices on Thursday rose 0.3 per cent to Rs710.45 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in December traded higher by Rs2.10 or 0.09 per cent at Rs710.45 per kg in a business turnover of 5,719 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures up on fresh bets

Aluminium prices climbed 0.03 per cent to Rs196.40 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for December delivery increased by 40 paise or 0.03 per cent to Rs196.40 per kg in a business turnover of 4,726 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Zinc futures rise on industrial demand

Zinc futures rose 85 paise to Rs219.70 per kilogram amid a pick-up in spot demand. On the Multi Commodity Exchange, zinc contracts for December delivery traded higher by 85 paise or 0.39 per cent at Rs219.70 per kg with a business turnover of 4,428 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.

Guar gum futures turn sluggish

Guar gum prices dropped Rs38 to Rs11,048 per five quintals in the futures market as traders offloaded their holdings in line with a weak trend in the spot market. On the National Commodity and Derivatives Exchange (NCDEX), guar gum for January delivery fell Rs38 or 0.34 per cent to Rs11,048 per five quintals in 19,755 lots. Marketmen said slackness in demand in the spot market and ample supplies from growing regions put pressure on guar gum prices.