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Dhimant Bhatt

DEMAND PEP: Consumption by infrastructure projects is seen driving copper prices up.

Mumbai , April 2

Copper futures prices may rule firm this week on strong global reports supported by speculative buying support on the MCX platform.

Last Friday, copper April 2006 contracts and wire bar spot prices reached to a new high of Rs 245.40 per kg ex-Bhiwandi and Rs 293 per kg ex-Mumbai.

"LME copper prices have touched a new high mainly on speculative buying on news of strike threats in Mexico. Also, LME inventory has gone down by about 2,600 tonnes last week," an analyst said. MCX April contracts on Saturday traded higher at Rs 243.65 a kg, up Rs 7.25 over last week. Sugar

Sugar (grade-M) futures prices may rule steady this week on fresh but limited buying support amid steady supply.

Spot market was down slightly last week on reports of higher free sale quota of 42 lakh tonnes announced for the second quarter (April-June 2006).

Sugar April contracts on the NCDEX platform were steady around Rs 1,940-1,945 a quintal, while May contracts were down Rs 10 to rule at Rs 2,036 on some selling. In Mumbai, spot sugar M-grade prices were steady around Rs 1,860-1915 a quintal while spot prices at Muzaffar Nagar moved around Rs 1,970-1,980.

Potato

Potato futures prices may rule weak on continued speculative selling by stockists amid increased supply. MCX April potato traded at Rs 658 (ex-Agra) on Saturday, down Rs 55 a quintal since last week.

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