12 FEBRUARY 2015The Economic Times
Aluminium futures weaken on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices fell by 0.22 per cent to INR 113.85 per kg in futures trading today as speculators reduced positions amid weak global cues.
Further, subdued demand in the domestic spot markets weighed on the prices of the metal.
At the Multi Commodity Exchange, aluminium for delivery in current month shed 25 paise, or 0.22 per cent, to INR 113.85 per kg in a business turnover of 237 lots.
Similarly, the metal for delivery in March traded lower by 20 paise, or 0.17 per cent, to INR 115 per kg in 10 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) after China reported that consumer prices rose at the slowest pace in more than five years and factory-gate deflation deepened.
Further, subdued demand in the domestic spot markets weighed on the prices of the metal.
At the Multi Commodity Exchange, aluminium for delivery in current month shed 25 paise, or 0.22 per cent, to INR 113.85 per kg in a business turnover of 237 lots.
Similarly, the metal for delivery in March traded lower by 20 paise, or 0.17 per cent, to INR 115 per kg in 10 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) after China reported that consumer prices rose at the slowest pace in more than five years and factory-gate deflation deepened.
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