Commodity Watch: Cottonseed oil cake futures rise
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New Delhi: Cottonseed oil cake prices on Friday rose Rs 29 to Rs 2,916 per quintal in futures trade as speculators created fresh positions amid higher demand.
On the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery traded higher by Rs 29 or 0.99 per cent at Rs 2,916 per quintal with an open interest of 38,460 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.
Guar seed futures decline as supply rise
Guar seed prices on Friday declined Rs 9 to Rs 5,645 per 10 quintals in the futures trade amid an increase in supply from producing regions. On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery plummeted Rs 9 or 0.16 per cent to Rs 5,645 per 10 quintals with an open interest of 52,840 lots. Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions.
Zinc futures down on muted demand
Zinc prices on Friday fell by 0.07 per cent to Rs 222.75 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 December delivery traded lower by 15 paise or 0.07 per cent at Rs 222.75 per kg in 3,980 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.
Copper futures gain on higher demand
Copper prices on Friday rose 0.09 per cent to Rs 722.65 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange, copper contracts for delivery in December traded higher by 65 paise or 0.09 per cent at Rs 722.65 per kg in a business turnover of 5,189 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
