03 DECEMBER 2013Business Standard
Aluminium down 0.1% on global cues
Edited by : AL CIRCLE
1 min read
Taking weak cues from global markets, aluminium prices fell to INR 108.05 per kg in futures trading today as speculators offloaded their positions.
Further, sluggish demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for December contract declined by 30 paise, or 0.28%, to INR 108.05 per kg in business turnover of 72 lots.
Similarly, the metal for delivery in January next year traded lower by 30 paise, or 0.27%, to INR 109.60 per kg in one lot.
Globally, aluminium for delivery in three months on the London Metal Exchange (LME) lost 0.5% to $1,747 per tonne.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with an overseas downtrend after stockpiles climbed.
Meanwhile, inventories tracked by the LME rose 1.4% as of November 29, the most since October 17, to 5.47 million tonnes.
The stockpiles tracked by the Shanghai Futures Exchange were 2.1% higher at 196,885 tonnes last week, exchange data showed.
Further, sluggish demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for December contract declined by 30 paise, or 0.28%, to INR 108.05 per kg in business turnover of 72 lots.
Similarly, the metal for delivery in January next year traded lower by 30 paise, or 0.27%, to INR 109.60 per kg in one lot.
Globally, aluminium for delivery in three months on the London Metal Exchange (LME) lost 0.5% to $1,747 per tonne.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with an overseas downtrend after stockpiles climbed.
Meanwhile, inventories tracked by the LME rose 1.4% as of November 29, the most since October 17, to 5.47 million tonnes.
The stockpiles tracked by the Shanghai Futures Exchange were 2.1% higher at 196,885 tonnes last week, exchange data showed.
Previous article
Aluminum declines to four - year low as global stockpiles climb
Next articleNewly released aluminum statistical review shows five percent growth in aluminum demand in 2012
Grow with
AL Circle
