24 MARCH 2014The Economic Times
Aluminium futures down on weak global cues
Edited by : AL CIRCLE
1 min read
Taking weak cues from global markets, aluminium eased by 0.24 per cent, to INR 104.30 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 April declined by 25 paise, or 0.24 per cent, to INR 104.30 per kg in business turnover of 81 lots.
Similarly, the metal for delivery in March traded lower by 20 paise, or 0.19 per cent, to INR 102.50 per kg in 183 lots.
Analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange on demand concern after the Federal Reserve signalled it would raise interest rates.
Besides, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in April declined by 25 paise, or 0.24 per cent, to INR 104.30 per kg in business turnover of 81 lots.
Similarly, the metal for delivery in March traded lower by 20 paise, or 0.19 per cent, to INR 102.50 per kg in 183 lots.
Analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange on demand concern after the Federal Reserve signalled it would raise interest rates.
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