Commodity Watch: Copper futures sparkle on rising spot demand
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New Delhi: Copper futures rose 0.17 per cent to Rs718.25 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in January traded higher by Rs1.25 or 0.17 per cent at Rs718.25 per kg in a business turnover of 5,830 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures in red
Aluminium prices declined 55 paise to Rs202.55 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 January fell by 55 paise or 0.27 per cent to Rs202.55 per kg in 4,267 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Cottonseed oil cake futures rise on fresh bets
Cottonseed oil cake prices rose Rs1 to Rs2,670 per quintal in futures trade as speculatoRscreated fresh positions amid a higher demand. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for January delivery traded higher by Rs1 or 0.04 per cent at Rs2,670 per quintal with an open interest of 14,530 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.
Coriander futures rise
Coriander prices on Friday rose Rs56 to Rs6,860 per quintal in futures trade as speculators increased their holdings, tracking a firm trend in the spot market.
