Copper futures continue to rise
image for illustrative purpose
New Delhi: Copper futures on Tuesday rose 0.03 per cent to Rs717.85 per kilogram on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in November traded higher by 25 paise or 0.03 per cent at Rs717.85 per kg in a business turnover of 3,458 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures rise on fresh bets
Aluminium prices climbed 0.05 per cent to Rs205.55 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for November delivery increased by 10 paise or 0.05 per cent to Rs205.55 per kg in a business turnover of 2,208 lots. Analysts said fresh positions created by traders amid a demand from consuming industries supported aluminium prices in the futures market.
Cottonseed oil cake futures rise on fresh bets
Cottonseed oil cake prices on Tuesday rose Rs49 to Rs2,938 per quintal in futures trade as speculators created fresh positions amid higher demand.
On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery traded higher by Rs49 or 1.67 per cent at Rs2,938 per quintal with an open interest of 41,200 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.
Guar gum futures rise on spot demand
Guar gum prices increased Rs12 to Rs11,638 per five quintals in futures trade as speculators increased their holdings amid a firm spot demand. On NCDEX, guar gum contracts for December delivery traded higher by Rs12 or 0.10 per cent at Rs11,638 per five quintals with an open interest of 59,995 lots. Analysts said after tracking a firm physical market trend, traders raised their bets, which led to the rise in guar gum prices.
Muted demand for Zinc futures
Zinc prices fell by 0.59 per cent to Rs226.60 per kilogram as speculators reduced their exposure, taking negative cues from the spot market.
