Commodity Market Updates, November 25: Crude oil, Aluminium, Copper futures rise on higher demand

Crude oil futures

Crude oil prices on Tuesday, November 25, increased by ₹12 to ₹5,247 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi-Commodity Exchange (MCX), crude oil for December delivery traded higher by ₹12 or 0.23% at ₹5,247 per barrel in 15,784 lots.

Analysts said that participants raising the bets kept crude oil prices higher in futures trade on Tuesday.

Globally, West Texas Intermediate crude was trading 0.29% lower at $58.67 per barrel, while Brent crude fell 0.35% to $63.15 per barrel in New York.

Aluminium futures

Aluminium prices rose by ₹1.10 to ₹269.45 per kilogram in the domestic futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the MCX, aluminium for delivery in December went up by ₹1.10, or 0.41%, to ₹269.45 per kg in a business turnover of 2,698 lots.

Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Copper futures

Copper futures advanced 0.73% to ₹1,014.40 per kilogram due to higher spot demand.

On the MCX, copper contracts for December delivery grew by ₹7.40 or 0.73% to ₹1,014.40 per kg in a business turnover of 3,263 lots.

Analysts attributed the rise in copper prices to higher bets by participants.

Zinc futures

Zinc prices surged by ₹1.30 to ₹298.55 per kilogram in futures trade amid a pick-up in spot demand.

On the MCX, zinc contracts for December delivery traded higher by ₹1.30 or 0.44% to ₹298.55 per kilogram, with a business turnover of 2,440 lots.

Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries, kept zinc prices higher in the futures trade.