Commodity Watch: Muted demand for Copper futures

New Delhi: Copper futures on Monday fell Rs3.30 to Rs723.30 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for December delivery eased by Rs3.30 or 0.45 per cent to Rs723.30 per kg in a business turnover of 4,990 lots. Analysts said trimming of positions by speculators amid a muted demand in the spot market mainly dragged down copper prices in the futures trade.

Aluminium futures fall on weaker spot demand

Aluminium price declined 70 paise to Rs201.10 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market.

On MCX, aluminium for delivery in December marginally fell by 70 paise or 0.35 per cent to Rs201.10 per kg in 4,006 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Zinc futures down

Zinc fell by 1.35 per cent to Rs222.25 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market.

On MCX, zinc contracts for December delivery traded lower by Rs3.05 or 1.35 per cent at Rs222.25 per kg in 3,553 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.

Cottonseed oil turns sluggish

Cottonseed oil cake prices fell Rs21 to Rs2,933 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery declined Rs21 or 0.72 per cent to Rs2,933 per quintal with an open interest of 40,690 lots. Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.