05 SEPTEMBER 2013Business Standard
Aluminium down 0.9% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices edged lower by 0.92% to INR 123.90 per kg in futures trade today as participants trimmed positions, tracking a weak overseas trend.
Further, subdued demand in the spot markets also put pressure on metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October shed INR 1.15, or 0.92%, to INR 123.90 per kg in business turnover of 20 lots.
Likewise, the metal for delivery in September traded lower by INR 1.10, or 0.89%, to INR 122.65 per kg in 242 lots.
Marketmen said apart from subdued domestic demand, a weakening global trend on concern that the US Federal Reserve is getting closer to tapering stimulus, weighed on aluminium futures here.
Further, subdued demand in the spot markets also put pressure on metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October shed INR 1.15, or 0.92%, to INR 123.90 per kg in business turnover of 20 lots.
Likewise, the metal for delivery in September traded lower by INR 1.10, or 0.89%, to INR 122.65 per kg in 242 lots.
Marketmen said apart from subdued domestic demand, a weakening global trend on concern that the US Federal Reserve is getting closer to tapering stimulus, weighed on aluminium futures here.
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