Copper futures reeling under pressure

New Delhi: Copper futures on Friday fell Rs2 to Rs702.95 per kilogram as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for November delivery eased by Rs2 or 0.28 per cent to Rs702.95 per kg in a business turnover of 6,581 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.

Cottonseed oil cake futures rise

Cottonseed oil cake prices on Friday rose by Rs 37 to Rs 2,836 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 Rs37 or 1.38 per cent at Rs2,836 per quintal with an open interest of 42,110 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 Rs123 to Rs11,107 per five quintals in futures trade, as speculators increased their holdings amid a firm spot demand. On NCDEX, guar gum contracts for November delivery traded higher by Rs 123 or 1.11 per cent at Rs 11,107 per five quintals with an open interest of 5,610 lots. Analysts said after tracking a firm physical market trend, traders raised their bets, which led to the rise in guar gum prices.

Guar seed futures rise

Guar seed prices increased Rs71 to Rs5,567 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market. On NCDEX, guar seed contracts for November delivery rose Rs71 or 1.28 per cent to Rs5,567 per 10 quintals with an open interest of 12,350 lots. According to marketmen, speculators raised bets, tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.