02 APRIL 2014The Economic Times
Aluminium futures weaken on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices fell 0.56 per cent to INR 105.65 per kg in futures trading today as speculators reduced their positions amid weak global cues.
Besides, 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 60 paise, or 0.56 per cent, to INR 105.65 per kg in business turnover of 250 lots.
Similarly, the metal for delivery in May traded lower by 45 paise, or 0.42 per cent, to INR 107.25 per kg in 3 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange after Chinese economic data showed weak recovery, lowering prospects for demand from the world's biggest consumer.
Besides, 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 60 paise, or 0.56 per cent, to INR 105.65 per kg in business turnover of 250 lots.
Similarly, the metal for delivery in May traded lower by 45 paise, or 0.42 per cent, to INR 107.25 per kg in 3 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange after Chinese economic data showed weak recovery, lowering prospects for demand from the world's biggest consumer.
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