05 JULY 2013Business Standard
Aluminium down 0.5% on global cues
Edited by : AL CIRCLE
1 min read
Taking weak cues from global markets, aluminium prices fell 0.51% to INR 107.25 per kg in futures trading on Thursday as speculators offloaded their positions.
Further, sluggish demand in India's domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in July declined by INR 0.55, or 0.51%, to INR 107.25 per kg in business turnover of 201 lots.
Similarly, aluminium for delivery in August traded lower by INR 0.50, or 0.46%, to INR 108.70 per kg in seven lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange and subdued spot demand.
Further, sluggish demand in India's domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in July declined by INR 0.55, or 0.51%, to INR 107.25 per kg in business turnover of 201 lots.
Similarly, aluminium for delivery in August traded lower by INR 0.50, or 0.46%, to INR 108.70 per kg in seven lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange and subdued spot demand.
Previous article
Alcoa drops on JPMorgan downgrade
Next articleSpot aluminium stockpiles fall for the 13th consecutive week in China
Grow with
AL Circle
