Commodity Watch: Muted demand in copper futures

Copper futures on Thursday fell 65 paise to Rs725.30 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 65 paise or 0.09 per cent to Rs725.30 per kg in a business turnover of 2,095 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

Aluminium prices declined Rs1.20 to Rs201.55 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 fell by Rs1.20 or 0.59 per cent to Rs201.55 per kg in 1,448 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices rose Rs6 to Rs 2,703 per quintal in futures trade as speculators created fresh positions amid a higher demand. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for January delivery traded higher by Rs6 or 0.22 per cent at Rs2,703 per quintal with an open interest of 48,410 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.

Coriander futures under pressure

Coriander prices eased Rs40 to Rs 7,310 per quintal in futures trade as speculators reduced their positions amid a weak demand in the spot market. On NCDEX, coriander contracts for January delivery declined Rs40 or 0.55 per cent to Rs7,310 per quintal in 19,065 lots. Market analysts said subdued demand in the spot market mainly led to the decline in coriander prices here.