14 AUGUST 2014Business Standard
Aluminium down 0.4% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices fell by 0.36% to INR 124.50 per kg in futures trading today as speculators reduced their positions amid weak global cues.
Further, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August shed 45 paise, or 0.36%, to INR 124.50 per kg in business turnover of 440 lots.
Similarly, the metal for delivery in September traded lower by 30 paise, or 0.32%, to INR 125.25 per kg in 367 lots.
Globally, aluminum fell 0.2% to $2,048 per tonne at the London Metal Exchange.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange (LME) before data on industrial production from China, the world's biggest user of industrial metals.
Further, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August shed 45 paise, or 0.36%, to INR 124.50 per kg in business turnover of 440 lots.
Similarly, the metal for delivery in September traded lower by 30 paise, or 0.32%, to INR 125.25 per kg in 367 lots.
Globally, aluminum fell 0.2% to $2,048 per tonne at the London Metal Exchange.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange (LME) before data on industrial production from China, the world's biggest user of industrial metals.
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