Commodity Market Updates, December 15: Crude oil, Aluminium, Copper futures advance

Crude oil futures

Crude oil prices on Monday, December 15, increased by ₹2 to ₹5,240 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi-Commodity Exchange (MCX), crude oil for January delivery traded higher by ₹2 or 0.04% at ₹5,240 per barrel in 10,375 lots.

Globally, West Texas Intermediate crude was trading 0.50% higher at $57.73 per barrel, while Brent crude rose 0.52% to $61.44 per barrel in New York.

Aluminium futures

Aluminium prices rose by ₹2 to ₹283.55 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 ₹2 or 0.71% to ₹283.55 per kg in 1,240 lots.

A PTI report, which quoted analysts, stated that fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Copper futures

Copper futures advanced 1% to ₹1,119.40 per kilogram on Monday due to higher spot demand.

On the MCX, copper contracts for January delivery grew by ₹11.05 or 1% to ₹1,119.40 per kg in a business turnover of 4,228 lots.

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

Zinc futures

Zinc prices gained by ₹2.25 to ₹315.35 per kilogram in futures trade amid a pick-up in spot demand.

On the MCX, zinc contracts for January delivery traded higher by ₹2.25 or 0.72% to ₹315.35 per kilogram with a business turnover of 1,006 lots.

A PTI report, which cited marketmen, said that the widening of positions by participants, following a pick-up in demand from consuming industries, kept zinc prices higher in the futures trade.