02 SEPTEMBER 2015business-standard.com
Aluminium falls by 1.4% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices were down 1.45% to INR 105.60 per kg in futures trading today after speculators trimmed positions amid a weak trend overseas and sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange (MCX), aluminium for delivery in September shed INR 1.55, or 1.45% to INR 105.60 per kg in business turnover of 597 lots.
On similar lines, metal for delivery in October was down by INR 1.15, or 1.07%, to INR 106.75 per kg with a volume of 55 lots.
Analysts said off-loading of positions by speculators, tracking a weak trend at the London Metal Exchange (LME) after the official purchasing managers index for manufacturing in China showed its worst reading since August 2012, cementing a broader picture of falling demand in China, weighed on aluminium prices at futures trade.
At the Multi Commodity Exchange (MCX), aluminium for delivery in September shed INR 1.55, or 1.45% to INR 105.60 per kg in business turnover of 597 lots.
On similar lines, metal for delivery in October was down by INR 1.15, or 1.07%, to INR 106.75 per kg with a volume of 55 lots.
Analysts said off-loading of positions by speculators, tracking a weak trend at the London Metal Exchange (LME) after the official purchasing managers index for manufacturing in China showed its worst reading since August 2012, cementing a broader picture of falling demand in China, weighed on aluminium prices at futures trade.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Noranda Aluminum Holding jumps 45.76% on August 31
Next articleFalling premiums hit big aluminium trading houses
Grow with
AL Circle
