05 APRIL 2013The Economic Times
Aluminium futures down on weak global cues
Edited by : AL CIRCLE
1 min read
Taking weak cues from global markets, aluminium prices fell by 0.24 per cent, to INR103.60 per kg in futures trading today as speculators offloaded their positions.
Besides, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in May declined by INR 0.25, or 0.24 per cent, to INR 103.60 per kg in business turnover of 31 lots.
Similarly, the metal for delivery in April traded lower by INR 0.20, or 0.20 per cent, to INR 102.25 per kg in 378 lots.
Globally, aluminium retreated 1.1 per cent to $ 1,884 per tonne at the London Metal Exchange.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME on demand concern and subdued spot demand.
Besides, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in May declined by INR 0.25, or 0.24 per cent, to INR 103.60 per kg in business turnover of 31 lots.
Similarly, the metal for delivery in April traded lower by INR 0.20, or 0.20 per cent, to INR 102.25 per kg in 378 lots.
Globally, aluminium retreated 1.1 per cent to $ 1,884 per tonne at the London Metal Exchange.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME on demand concern and subdued spot demand.
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