30 SEPTEMBER 2014The Economic Times
Aluminium futures weaken on global cues
Edited by : AL CIRCLE
1 min read
Aluminium futures today traded 0.38 per cent lower at INR 118.75 per kg 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 October eased by 45 paise, or 0.38 per cent, to INR 118.75 per kg in business turnover of 59 lots.
Similarly, the metal for delivery in September traded lower by 30 paise, or 0.30 per cent, to INR 117.60 per kg in 146 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 (LME) on concern that demand will slow in China, the biggest metals user, and subdued demand at domestic spot markets.
Further, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October eased by 45 paise, or 0.38 per cent, to INR 118.75 per kg in business turnover of 59 lots.
Similarly, the metal for delivery in September traded lower by 30 paise, or 0.30 per cent, to INR 117.60 per kg in 146 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 (LME) on concern that demand will slow in China, the biggest metals user, and subdued demand at domestic spot markets.
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