Commodity Market Updates, Dec 19: Aluminium futures touch record high; Crude oil, Zinc fall on MCX

Crude oil futures

Crude oil futures on Friday, December 19, declined by ₹40 to ₹5,074 per barrel as participants trimmed their positions amid weak demand in the spot market.

On the Multi-Commodity Exchange (MCX), crude oil for January delivery fell by ₹40 or 0.78% to ₹5,074 per barrel in 2,1930 lots.

A PTI report, citing analysts, said the prices fell after participants offloaded their holdings amid weak demand in the spot market.

Globally, West Texas Intermediate crude oil was trading 0.23% lower at $56.02 per barrel, while Brent Crude fell 0.25% to $59.67 per barrel in New York.

Aluminium futures

Aluminium prices advanced by ₹1.75 to a record high of ₹287.10 per kilogram in the futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the MCX, aluminium for delivery in January increased by ₹1.35 or 0.61% to touch a lifetime high of ₹287.10 per kilogram. Similarly, contracts for the February expiry jumped 0.78% to an all-time high of ₹290.40 per kg.

Copper futures

Copper futures increased by 0.43% to ₹1,127.20 per kilogram due to higher spot demand.

On the MCX, copper contracts for January delivery grew by ₹4.85 or 0.43% to ₹1,127.20 per kg in a business turnover of 6,120 lots.

Analysts attributed the rise in copper prices to higher bets by participants, according to a PTI report.

Zinc futures

Zinc prices slipped by ₹0.35 to ₹302.75 per kilogram in futures trade. On the MCX, zinc contracts for January delivery traded higher by ₹0.35 or 0.12% to ₹302.75 per kilogram, with a business turnover of 2,462 lots.