Copper and aluminium futures witnessed a decline in prices on Monday, influenced by reduced demand in the domestic market.
On the Multi Commodity Exchange (MCX), copper contracts for July delivery fell by 0.47 per cent, or Rs4.05, to Rs8664.20 per kilogram, with a business turnover of 7,016 lots. Analysts attributed this drop to speculators trimming their positions amidst muted demand in the spot market.
Similarly, aluminium prices also saw a decline in the futures market, with aluminium for July delivery dropping by 0.41 per cent, or 95 paise, to Rs228.10 per kilogram in 3,505 lots on MCX. Participants reduced their positions following a weak trend in the spot market, reflecting easing demand from consuming industries.
The market sentiment remains cautious as traders respond to the current demand dynamics in the metals sector, highlighting ongoing sensitivity to economic indicators affecting industrial consumption.
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