The Economic Times
Aluminium futures weaken on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices fell by 0.39 per cent to INR 102.40 per kg in futures trading today as speculators reduced their positions amid weak global cues.
Further, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in April eased by INR 0.45, or 0.39 per cent, to INR 102.40 per kg in business turnover of 866 lots.
Similarly, the metal for delivery in May traded lower by INR 0.40, or 0.38 per cent, to INR103.90 per kg in 74 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME on concern demand from China, the biggest consumer of metals, will decline after the International Monetary Fund.
Further, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in April eased by INR 0.45, or 0.39 per cent, to INR 102.40 per kg in business turnover of 866 lots.
Similarly, the metal for delivery in May traded lower by INR 0.40, or 0.38 per cent, to INR103.90 per kg in 74 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME on concern demand from China, the biggest consumer of metals, will decline after the International Monetary Fund.
Previous article
Century Aluminum warns of plant shutdown
Next articleDubal attracts UAE Nationals during Careers UAE 2012
Grow with
AL Circle
