Renewed spot demand propels copper futures up
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New Delhi: Copper futures on Thursday rose 0.52 per cent to Rs710.30 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in November traded higher by Rs3.70 or 0.52 per cent at Rs710.30 per kg in a business turnover of 6,637 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures rise
Aluminium prices climbed 0.32 per cent to Rs206.90 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for November delivery increased by 65 paise or 0.32 per cent to Rs206.90 per kg in a business turnover of 3,064 lots. Analysts said fresh positions created by traders amid a demand from consuming industries supported aluminium prices in the futures market.
Zinc futures up
Zinc prices rose Rs2.45 to Rs224.65 per kilogram in the futures trade amid a pick-up in spot demand. On MCX, zinc contracts for November delivery traded higher by Rs2.24 or 1.1 per cent at Rs224.65 per kg with a business turnover of 4,006 lots. Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries kept zinc prices higher in the futures trade.
Guar seed futures decline
Guar seed prices declined Rs54 to Rs5,749 per 10 quintals in the futures trade amid an increase in supply from producing regions. On the National Commodity and Derivatives Exchange (NCDEX), guar seed contracts for November delivery fell Rs54 or 0.94 per cent to Rs5,749 per 10 quintals with an open interest of 44,185 lots. Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions.
Cottonseed oil cake futures rise on fresh bets
Cottonseed oil cake prices rose by Rs12 to Rs2,942 per quintal in futures trade as speculators created fresh positions amid higher demand.
