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 INR101.90 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 May eased by INR 0.40, or 0.39 per cent, to INR101.90 per kg in business turnover of 150 lots.
Similarly, the metal for delivery in April traded lower by INR 0.35, or 0.35 per cent, to INR 100.05 per kg in 415 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 demand concern after lower-than-forecast growth in the US and China, the world's biggest consumers of the metal.
Further, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in May eased by INR 0.40, or 0.39 per cent, to INR101.90 per kg in business turnover of 150 lots.
Similarly, the metal for delivery in April traded lower by INR 0.35, or 0.35 per cent, to INR 100.05 per kg in 415 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 demand concern after lower-than-forecast growth in the US and China, the world's biggest consumers of the metal.
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