Copper futures gain on firm spot demand

New Delhi: Copper prices on Monday rose 0.31 per cent to Rs712.10 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in November traded higher by Rs2.20 or 0.31 per cent at Rs712.10 per kg in a business turnover of 6,437 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Fresh bets propelling Aluminium futures up

Aluminium prices climbed 0.63 per cent to Rs208.40 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 Rs1.30 or 0.63 per cent to Rs208.40 per kg in a business turnover of 2,952 lots. Analysts said fresh positions created by trade Rsamid a demand from consuming industries supported aluminium prices in the futures market.

Zinc futures rise

Zinc prices rose Rs2.30 to Rs225.85 per kilogram in the futures trade amid a pick-up in spot demand. On MCX, zinc contracts for November delivery traded higher by Rs2.30 or 1.03 per cent at Rs225.85 per kg with a business turnover of 3,921 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.

Coriander futures decline

Coriander prices fell Rs94 to Rs7,474 per quintal in futures trade as speculators reduced their positions amid a weak demand in the spot market. On the National Commodity and Derivatives Exchange (NCDEX), coriander contracts for November delivery eased Rs94 or 1.26 per cent to Rs7,474 per quintal in 17,075 lots. Market analysts said subdued demand in the spot market mainly led to the decline in coriander prices here.