Copper futures slip on muted spot demand
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New Delhi: Copper futures on Thursday fell by 90 paise to Rs703.10 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 90 paise or 0.13 per cent to Rs703.10 per kg in a business turnover of 6,718 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 on low demand
Aluminium price fell Rs1.65 to Rs206.30 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 Rs1.65 or 0.79 per cent to Rs206.30 per kg in 2,737 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Zinc futures down
Zinc prices fell by 0.2 per cent to Rs228 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 45 paise or 0.2 per cent at Rs228 per kg in 5,175 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 futures decline
Cottonseed oil cake prices fell Rs42 to Rs2,876 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 Rs42 or 1.46 per cent to Rs2,876 per quintal with an open interest of 41,410 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.
