Copper Futures Rally on Surging Demand: Latest Commodity Market Update

New Delhi: Copper prices on Wednesday rose 0.31 per cent to Rs734.90 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 Rs2.25 or 0.31 per cent at Rs734.90 per kg in a business turnover of 5,045 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices on Wednesday climbed 0.53 per cent to Rs208.80 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for January delivery increased by Rs1.10 or 0.53 per cent to Rs208.80 per kg in a business turnover of 4,156 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Zinc futures rise on high demand

Zinc prices on Wednesday rose Rs2.60 to Rs231.80 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 Rs2.60 or 1.13 per cent at Rs231.80 per kg with a business turnover of 4,945 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 rise on firm demand

Guar gum prices on Wednesday increased Rs24 to Rs10,970 per five quintals in futures trade as speculators increased their holdings amid a firm spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery traded higher by Rs24 or 0.22 per cent at Rs10,970 per five quintals with an open interest of 43,145 lots.