20 OCTOBER 2014Business Standard
Aluminium down by 0.9% on global cue
Edited by : AL CIRCLE
1 min read
Aluminium prices fell 0.88% to INR 117.70 per kg in futures trade today as speculators offloaded their positions amid weak cues from global markets.
Further, sluggish demand in the domestic spot markets weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October declined by INR 1.05, or 0.88%, to INR 117.70 per kg in a business turnover of 267 lots.
Similarly, the metal for delivery in November traded lower by 75 paise, or 0.63%, to INR 119 per kg in 20 lots.
Analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange on demand concern following signs of slowing economic growth.
Further, sluggish demand in the domestic spot markets weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October declined by INR 1.05, or 0.88%, to INR 117.70 per kg in a business turnover of 267 lots.
Similarly, the metal for delivery in November traded lower by 75 paise, or 0.63%, to INR 119 per kg in 20 lots.
Analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange on demand concern following signs of slowing economic growth.
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