Copper futures experienced a 0.65% increase on Thursday, rising to Rs 855.50 per kilogram, driven by robust demand in the spot market. On the Multi Commodity Exchange (MCX), copper contracts for March delivery gained Rs 5.50, reaching Rs 855.50 per kilogram, with a trading volume of 1,431 lots. Analysts attributed the price hike to increased market activity, as traders placed higher bets in anticipation of sustained demand.
Aluminium Prices Edge Up on Speculative Activity
Aluminium futures also saw an uptick, rising by Rs 1.35 to Rs 255.25 per kilogram, as speculators took fresh positions amid favorable trends in the spot market. On MCX, aluminium contracts for March delivery increased by 0.53%, or Rs 1.35, to Rs 255.25 per kilogram, with a trading volume of 584 lots. Market experts noted that demand from consuming industries and renewed trader positions helped sustain upward momentum in aluminium prices.
Zinc Futures Gain on Increased Demand
Zinc futures climbed by Rs 2.20 to Rs 271.30 per kilogram, reflecting strong demand from the spot market. On MCX, zinc contracts for March delivery advanced by 0.82%, or Rs 2.20, to Rs 271.30 per kilogram, with 414 lots traded. Analysts highlighted that expanding positions by market participants, coupled with demand from end-use industries, contributed to zinc’s price increase in the futures market.
