Muted demand for copper futures

New Delhi: Copper futures on Thursday fell Rs1.35 to Rs710.60 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 Rs1.35 or 0.19 per cent to Rs710.60 per kg in a business turnover of 5,367 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 45 paise to Rs205.65 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 45 paise or 0.22 per cent to Rs206.65 per kg in 2,952 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 0.84 per cent to Rs230.75 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 Rs1.95 or 0.84 per cent at Rs230.75 per kg in 4,665 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.

Renewed bets on cottonseed oil cake futures

Cottonseed oil cake prices rose by Rs8 to Rs2,952 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 Rs8 or 0.27 per cent at Rs2,952 per quintal with an open interest of 41,560 lots. Marketmen said the raising of positions by participants amid increasing demand for cattle feed mainly influenced cottonseed oil cake prices.