Aluminium Futures Edge Up 0.62% On Spot Demand

Aluminium futures were trading higher during the noon trade in the domestic market on Thursday as speculators built up fresh positions, driven by pick up in demand at the spot market. Analysts said widening of positions by participants due to pick up in demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.
At the MCX, aluminium futures for August 2017 contract is trading at Rs 129.60 per kg, up by 0.62 per cent, after opening at Rs 129.45, against a previous close of Rs 128.80. It touched the intra-day high of Rs 129.70 (at 15:30 hours).
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India Set to Unveil New Biofuel Policy In bid To Cut Oil, Gas, Coal Imports

India will soon announce a new policy to promote biofuels as part of efforts by the world’s third-largest emitter of greenhouse gases to cut imports of fossil fuels like oil, gas and coal, a government minister said on Thursday.
The government aims to develop a biofuel economy worth 1 trillion rupees ($15.6 billion) in the next two years, Oil Minister Dharmendra Pradhan told a conference on renewable energy on Thursday.
India’s top three state-owned oil companies have pledged a combined $2 billion to carry out research to develop biofuel technologies and the government has pledged to guarantee a return on their investments, Pradhan said.
“The roadmap to lower crude oil imports is connected to biofuel,” Pradhan said. India, the world’s third-biggest oil consumer, aims to cut its crude imports by 10 percent by 2022.
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White Metal Rises Amid Positive Global Cues

Silver futures were trading higher during the afternoon trade in the domestic market on Thursday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade.
At the MCX, silver futures for September 2017 contract was trading at Rs 39025 per kg, up by 1.13 per cent, after opening at Rs 38682, against a previous close of Rs 38,590. It touched the intra-day high of Rs 39,065. (at 14:10 hours).
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Gold Rises On Global Cues

Gold futures were trading in the green in the domestic market on Thursday taking positive leads from global markets amid increased buying by local jewellers.
At the MCX, gold futures for October 2017 contract is trading at Rs 28967 per 10 grams, up by 0.43 per cent, after opening at Rs 28900, against a previous close of Rs 28844. It touched the intra-day high of Rs 28996 (at 13:23 hours).
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Copper Futures Up On Rising Demand

Copper futures were trading higher during the noon trade in the domestic market on Thursday as speculators extended their positions amid pick-up in demand at the domestic spot markets. Marketmen attributed the rise in copper futures to rising demand from consuming industries at domestic spot markets supporting the upside.
At the MCX, copper futures for August 2017 contract was trading at Rs 413.70 per kg, up by 0.02 per cent, after opening at Rs 414.00, against a previous close of Rs 413.60. It touched the intra-day high of Rs 414.55 (at 12:10 hours).
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Copper Futures Rise 0.52% Amid Upbeat Demand

Copper futures were trading higher during the noon trade in the domestic market on Wednesday as speculators extended their positions amid pick-up in demand at the domestic spot markets. Analysts attributed rise in copper futures to a firming trend in base metals at the London Metal Exchange (LME) where it hovered nearly 2-1/2 year highs at USD 6,466.50 per tonne yesterday.
At the MCX, cardamom futures for August 2017 contract was trading at Rs 416.20 per kg, up by 0.52 per cent, after opening at Rs 414.65, against a previous close of Rs 414.05. It touched the intra-day high of Rs 416.35 (at 12:30 hours).
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Lead Futures Up Amid Pickup In Demand

Lead futures were trading higher during the afternoon trade in the domestic market on Wednesday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX, lead futures for August 2017 contract is trading at Rs 152.70 per kg, up by 0.59 per cent, after opening at Rs 152.60, against a previous close of Rs 151.80. It touched the intra-day high of Rs 152.80. (at 12:03 hours).
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