22 OCTOBER 2015economictimes.indiatimes.com
Aluminium futures fall on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices fell 0.35 per cent to INR 99.60 per kg in futures trading today, tracking weak cues from global markets. Subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in November shed 35 paise, or 0.35 per cent, to INR 99.60 per kg in business turnover of 69 lots.
Similarly, the metal for delivery in current month contracts traded lower by 30 paise, or 0.31 per cent, to INR 97.85 per kg in 338 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in select base metals at the London Metal Exchange (LME) on concern that demand was weakening in China, the biggest consumer.
The light metal used in everything from aircraft to window frames dropped 0.5 per cent to USD 1,538 per tonne at the LME.
At the Multi Commodity Exchange, aluminium for delivery in November shed 35 paise, or 0.35 per cent, to INR 99.60 per kg in business turnover of 69 lots.
Similarly, the metal for delivery in current month contracts traded lower by 30 paise, or 0.31 per cent, to INR 97.85 per kg in 338 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in select base metals at the London Metal Exchange (LME) on concern that demand was weakening in China, the biggest consumer.
The light metal used in everything from aircraft to window frames dropped 0.5 per cent to USD 1,538 per tonne at the LME.
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
Hydro CEO says no recovery in sight for aluminium price
Next articleAluminum's losing streak extends to sixth day on glut concerns
Grow with
AL Circle
