23 OCTOBER 2014Business Standard
Aluminium prices fall echoing global market trends
Edited by : AL CIRCLE
1 min read
Taking weak cues from global markets, aluminium prices fell 0.29% to INR 121.15 per kg in futures trade on Wednesday as speculators trimmed positions.
Further, sluggish demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October eased by 35 paise, or 0.29%, to INR 121.15 per kg in business turnover of 130 lots.
Metal for delivery in November traded lower by a similar margin to INR 122.05 per kg in four lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in metal at the London Metal Exchange and subdued spot demand.
Further, sluggish demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October eased by 35 paise, or 0.29%, to INR 121.15 per kg in business turnover of 130 lots.
Metal for delivery in November traded lower by a similar margin to INR 122.05 per kg in four lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in metal at the London Metal Exchange and subdued spot demand.
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