20 SEPTEMBER 2011China Aluminium Network
Aluminium marginally down on global cues
Edited by : AL CIRCLE
1 min read
Aluminium futures fell marginally by 0.27% to Rs 111.05 per kg as speculators reduced their positions amid a weak trend at the London Metal Exchange.
Subdued demand in the domestic spot market also put pressure on aluminium prices.At the Multi Commodity Exchange, aluminium for delivery in September declined by 30 paise, or 0.27%, to Rs 111.05 per kg, with a business turnover of 162 lots.
In likewise manner, the metal for October contract delivery shed 20 paise, or 0.18%, to Rs 111.95 per kg in 162 lots.
Market analysts attributed the fall in aluminium prices to a weak trend in the entire base metals pack on the London Metal Exchange (LME) as Europe's sovereign debt crisis persisted, reducing prospects of a growing demand for industrial metals.
Meanwhile, aluminium fell by 1.1% to $2,355 a metric tonne on the LME.
Subdued demand in the domestic spot market also put pressure on aluminium prices.At the Multi Commodity Exchange, aluminium for delivery in September declined by 30 paise, or 0.27%, to Rs 111.05 per kg, with a business turnover of 162 lots.
In likewise manner, the metal for October contract delivery shed 20 paise, or 0.18%, to Rs 111.95 per kg in 162 lots.
Market analysts attributed the fall in aluminium prices to a weak trend in the entire base metals pack on the London Metal Exchange (LME) as Europe's sovereign debt crisis persisted, reducing prospects of a growing demand for industrial metals.
Meanwhile, aluminium fell by 1.1% to $2,355 a metric tonne on the LME.
Previous article
Smelters are under threat, claims Alcoa
Next articleSMM Morning Review - 2011/9/20 Aluminum Market
Grow with
AL Circle
