05 MAY 2016The Economic Times
Aluminium futures weaken as participants trim position
Edited by : AL CIRCLE
1 min read
Aluminium prices fell by 0.32 per cent to INR 109.10 per kg in futures trade yesterday, May 4, after traders reduced their exposure amid muted domestic demand and weak trend in base metals at the London Metal Exchange.
At Multi Commodity Exchange, aluminium for delivery in June eased 35 paise or 0.32 per cent to INR 109.10 per kg in a business turnover of just one lot.
Also, the metal for delivery in current month traded lower by 25 paise or 0.23 per cent to INR 108.50 per kg in 104 lots.
Marketmen said the apart from muted demand from consuming industries at the domestic spot markets, weakness in base metals at the London Metal Exchange (LME) after a private Chinese factory gauge showed contraction for a 14th month and the US manufacturing growth cooled, mainly weighed on aluminium futures here.
At Multi Commodity Exchange, aluminium for delivery in June eased 35 paise or 0.32 per cent to INR 109.10 per kg in a business turnover of just one lot.
Also, the metal for delivery in current month traded lower by 25 paise or 0.23 per cent to INR 108.50 per kg in 104 lots.
Marketmen said the apart from muted demand from consuming industries at the domestic spot markets, weakness in base metals at the London Metal Exchange (LME) after a private Chinese factory gauge showed contraction for a 14th month and the US manufacturing growth cooled, mainly weighed on aluminium futures here.
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