Commodity Watch: Unabated sell-off in copper futures
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New Delhi: Copper futures on Tuesday fell 5 paise to Rs720.30 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for January delivery eased by 5 paise or 0.01 per cent to Rs720.30 per kg in a business turnover of 5,810 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 25 paise to Rs203.30 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 January fell by 25 paise or 0.12 per cent to Rs203.30 per kg in 4,264 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 Rs3 to Rs2,693 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 Rs3 or 0.11 per cent at Rs2,693 per quintal with an open interest of 21,310 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.
Coriander futures rise
Coriander prices on Tuesday rose Rs50 to Rs6,970 per quintal in futures trade as speculators increased their holdings, tracking a firm trend in the spot market.
