Copper futures slip on muted spot demand
Copper contracts for November delivery on MCX eased by 80 paise or 0.11% to Rs706.45/ kg
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New Delhi: Copper futures on Wednesday fell 80 paise to Rs706.45 per kilogram, as participants cut their positions amid a muted demand in the domestic market.
On the Multi Commodity Exchange (MCX), copper contracts for November delivery eased by 80 paise or 0.11 per cent to Rs706.45 per kg in a business turnover of 7,063 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 price fell 40 paise to Rs 206.10 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 November declined by 40 paise or 0.19 per cent to Rs 206.10 per kg in 3,048 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Guar seed futures rise
Guar seed prices increased by Rs69 to Rs5,711 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market.
On the National Commodity and Derivatives Exchange (NCDEX), guar seed contracts for November delivery rose Rs69 or 0.65 per cent to Rs5,711 per 10 quintals with an open interest of 46,565 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.
Zinc futures under pressure
Zinc prices fell 0.32 per cent to Rs218.35 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market.
On MCX, zinc contracts for November delivery traded lower by 70 paise or 0.32 per cent at Rs 218.35 per kg in 4,722 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.
Cottonseed oil cake futures rise on fresh bets
Cottonseed oil cake prices on Wednesday rose by Rs50 to Rs2,883 per quintal in futures trade as speculators created fresh positions amid higher demand.
On NCDEX, cottonseed oil cake for December delivery traded higher by Rs50 or 1.73 per cent at Rs2,883 per quintal with an open interest of 45,520 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.
Coriander futures in focus
Coriander prices increased Rs130 to Rs7,230 per quintal in futures trade, as speculators increased their holdings, tracking a firm trend in the spot market.
On NCDEX, coriander contracts for November delivery traded higher by Rs130 or 1.80 per cent at Rs 7,230 per quintal with an open interest of 21,725 lots. A firm trend in the spot market and restricted supplies from producing regions pushed up coriander prices, market analysts said.
Rising spot demand propels guar gum futures up
Guar gum prices increased by Rs121 to Rs11,460 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 Rs121 or 1.06 per cent at Rs11,460 per five quintals with an open interest of 27,045 lots. Analysts said after tracking a firm physical market trend, traders raised their bets, which led to the rise in guar gum prices.
