Copper prices edged up by 0.14% to Rs 737.75 per kilogram in the futures market on Tuesday due to heightened spot demand.
On the Multi Commodity Exchange, copper contracts for March delivery traded higher by Rs 1.05 or 0.14% at Rs 737.75 per kg with a business turnover of 4,208 lots.
Analysts attributed the increase in copper prices to the increased betting activity by market participants.
Meanwhile, aluminium prices also saw a rise on Tuesday, growing by 0.42% to Rs 204.05 per kilogram in futures trade. This uptick was driven by speculators establishing fresh positions amidst a positive trend in the spot market.
On the Multi Commodity Exchange, aluminium contracts for March delivery rose by 85 paise or 0.42% to Rs 204.05 per kg with a business turnover of 4,138 lots.
Analysts noted that the surge in aluminium prices was supported by the creation of new positions by traders, coupled with demand from consuming industries in the futures market.
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