Copper, zinc futures slip on low demand
image for illustrative purpose
New Delhi:
Copper
Copper futures on Friday fell Rs 1.80 to Rs 706.55 per kilogram as participants cut their positions amid muted demand in the domestic market.
On the Multi Commodity Exchange, copper contracts for November delivery eased by Rs 1.80 or 0.25 per cent to Rs 706.55 per kg in a business turnover of 5,074 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.
Zinc
Zinc prices on Friday fell by 0.55 per cent to Rs 226.95 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market.
On the Multi Commodity Exchange, zinc contracts for November delivery traded lower by 45 paise or 0.55 per cent at Rs 226.95 per kg in 3,415 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.
Aluminium
Aluminium price on Friday fell Rs 1.10 to Rs 203.20 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market.
On the Multi Commodity Exchange, aluminium for delivery in November declined by Rs 1.10 or 0.54 per cent to Rs 203.20 per kg in 2,799 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Cottonseed oil
Cottonseed oil cake prices on Friday fell Rs 33 to Rs 2,948 per quintal in futures trade as participants reduced their bets following weak trends in spot markets.
On the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery declined Rs 33 or 1.12 per cent to Rs 2,948 per quintal with an open interest of 40,860 lots.
