Copper Futures Rally: Surge in Demand Sparks Optimism in Commodity Markets

New Delhi: Copper prices on Tuesday rose 0.13 per cent to Rs733.50 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange, copper contracts for delivery in January traded higher by 95paise or 0.13 per cent at Rs733.50 per kg in a business turnover of 5,013 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures fall on low demand

Aluminium prices on Tuesday declined 85paise to Rs207.85 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in January fell by 85paise or 0.41 per cent to Rs207.85 per kg in 3,890 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Zinc futures rise on high demand

Zinc prices on Tuesday rose90 paise to Rs229.85 per kilogram in the futures trade amid a pick-up in spot demand. On the Multi Commodity Exchange, zinc contracts for January delivery traded higher by 90paise or 0.39 per cent at Rs229.85 per kg with a business turnover of 4,693 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 fall on low demand

Guar gum prices on Tuesday dropped Rs87 to Rs11,052 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, guar gum for January delivery fell Rs87 or 0.79 per cent to Rs11,052 per five quintals in 45,560 lots. Marketmen said slackness in demand in the spot market and ample supplies from growing regions put pressure on guar gum prices.