Commodity Watch: Muted demand for Copper futures
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New Delhi: Copper futures on Friday declined 20 paise to Rs715 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 20 paise or 0.03 per cent to Rs715 per kg in a business turnover of 5,113 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 rise on fresh bets
Aluminium prices climbed 0.64 per cent to Rs196.35 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market.
On MCX, aluminium contracts for December delivery increased by 40 paise or 0.64 per cent to Rs196.35 per kg in a business turnover of 4,838 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
Zinc futures moving up
Zinc prices on Friday rose 50 paise to Rs218.10 per kilogram in the futures trade amid a pick-up in spot demand. On MCX, zinc contracts for December delivery traded higher by 50 paise or 0.23 per cent at Rs218.10 per kg with a business turnover of 4,426 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.
Cottonseed oil futures remain flat
Cottonseed oil cake prices remained flat at Rs2,956 per quintal in futures trade as participants maintained their positions in spot markets. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery remained flat at Rs 2,956 per quintal with an open interest of 34,250 lots.
