Commodity Watch: Copper futures gain on higher demand
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New Delhi: Copper prices on Tuesday rose 0.18 per cent to Rs732.40 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 Rs1.30 or 0.18 per cent at Rs732.40 per kg in a business turnover of 5,149 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures rise on fresh bets
Aluminium prices on Tuesday climbed 0.24 per cent to Rs212.60 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 50paise or 0.24 per cent to Rs212.60 per kg in a business turnover of 5,218 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
Zinc futures down on muted demand
Zinc prices on Tuesday fell by 0.15 per cent to Rs232.80 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market. On the Multi Commodity Exchange, zinc contracts for January delivery traded lower by 35paise or 0.15 per cent at Rs232.80 per kg in 5,152 lots. Analysts said trimming of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.
