Copper futures in focus
Demand rising as speculators build up positions
image for illustrative purpose
Copper prices on Friday rose 0.18 per cent to Rs711.65 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 Rs1.25 or 0.18 per cent at Rs711.65 per kg in a business turnover of 6,637 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures rise on fresh bets
Aluminium prices climbed 0.12 per cent to Rs206.05 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 25 paise or 0.12 per cent to Rs206.05 per kg in a business turnover of 3,177 lots. Analysts said fresh positions created by traders amid a demand from consuming industries supported aluminium prices in the futures market.
Zinc futures up
Zinc prices rose 10 paise to Rs221.85 per kilogram in the futures trade amid a pick-up in spot demand. On MCX, zinc contracts for November delivery traded higher by 10 paise or 0.05 per cent at Rs221.85 per kg with a business turnover of 3,615 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 decline
Cottonseed oil cake prices fell Rs10 to Rs2,955 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery declined Rs10 or 0.34 per cent to Rs2,955 per quintal with an open interest of 47,030 lots. Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.
