Rising spot demand further boosts Copper futures

New Delhi: Copper prices on Friday rose 0.23 per cent to Rs728.85 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in December traded higher by Rs1.70 or 0.23 per cent at Rs728.85 per kg in a business turnover of 4,445 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise

Aluminium prices climbed 1.35 per cent to Rs203.15 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for December delivery increased by Rs2.70 or 1.35 per cent to Rs203.15 per kg in a business turnover of 3,274 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Cottonseed oil futures decline

Cottonseed oil cake prices fell Rs40 to Rs2,931 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 decreased Rs40 or 1.36 per cent to Rs2,931 per quintal with an Open Interest of 12,060 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.

Guar seed recover

Guar seed prices climbed Rs58 to Rs5,467 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market. On NCDEX, guar seed contracts for December delivery rose Rs58 or 1.06 per cent to Rs5,467 per 10 quintals with an open interest of 2,545 lots. According to marketmen, speculators raised bets, tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.