28 MARCH 2013The Economic Times
Aluminium futures down on global cues
Edited by : AL CIRCLE
1 min read
Taking weak cues from global markets, aluminium prices fell marginally to INR 103.30 per kg in futures trading today as speculators offloaded their positions.
Further, sluggish demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in March declined by INR 0.30 , or 0.29 per cent, to INR 103.30 per kg in business turnover of 951 lots.
Similarly, the metal for delivery in April traded lower by INR 0.5, or 0.05 per cent, to INR 105.05 per kg in 352 lots.
Globally, aluminium retreated 0.9 per cent to USD 1,929 per tonne at the London Metal Exchange .
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the LME on demand concern and subdued spot demand.
Further, sluggish demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in March declined by INR 0.30 , or 0.29 per cent, to INR 103.30 per kg in business turnover of 951 lots.
Similarly, the metal for delivery in April traded lower by INR 0.5, or 0.05 per cent, to INR 105.05 per kg in 352 lots.
Globally, aluminium retreated 0.9 per cent to USD 1,929 per tonne at the London Metal Exchange .
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the LME on demand concern and subdued spot demand.
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