Commodity Watch: Copper futures further rise

New Delhi: Copper prices on Wednesday rose 0.41 per cent to Rs729.65 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 Rs3 or 0.41 per cent at Rs729.65 per kg in a business turnover of 3,090 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices climbed 0.39 per cent to Rs204.85 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 80 paise or 0.39 per cent to Rs 204.85 per kg in a business turnover of 1,852 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Speculators build-up positions in cottonseed oil cake futures

Cottonseed oil cake prices rose Rs3 to Rs2,734 per quintal in futures trade as speculators created fresh positions amid a higher demand. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery traded higher by Rs3 or 0.11 per cent at Rs2,734 per quintal with an open interest of 3,290 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.

Guar gum futures trading higher

Guar gum prices increased Rs331 to Rs10,367 per five quintals in futures trade as speculators increased their holdings amid a firm spot demand. On NCDEX, guar gum contracts for December delivery traded higher by Rs331 or 3.19 per cent at Rs10,367 per five quintals with an open interest of 45 lots. Analysts said after tracking a firm physical market trend, traders raised their bets, which led to the rise in guar gum prices.