Commodity Watch: Copper futures fall on muted demand
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New Delhi: Copper futures on Wednesday fell Rs1.15 to Rs720.85 per kilogram as participants cut their positions amid a muted demand in the domestic market.
On the Multi Commodity Exchange (MCX), copper contracts for December delivery eased by Rs1.15 or 0.16 per cent to Rs720.85 per kg in a business turnover of 5,219 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 turn sluggish
Aluminium price on Wednesday declined 90 paise to Rs202.55 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 December fell by 90 paise or 0.44 per cent to Rs202.55 per kg in 3,497 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Cottonseed oil cake futures rise on fresh bets
Cottonseed oil cake prices rose Rs14 to Rs2,965 per quintal in futures trade as speculators created fresh positions amid higher demand.
On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery traded higher by Rs14 or 0.47 per cent at Rs2,965 per quintal with an open interest of 42,910 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.
Coriander futures in focus
Coriander prices rose Rs16 to Rs8,254 per quintal in futures trade as speculators increased their holdings, tracking a firm trend in the spot market.
On NCDEX, coriander contracts for December delivery traded higher by Rs16 or 0.19 per cent at Rs8,254 per quintal with an open interest of 19,320 lots. A firm trend in the spot market and restricted supplies from producing regions pushed up coriander prices, market analysts said.
