Business Standard
Aluminium weakens 0.4% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium futures for April eased by INR 0.45, or 0.39%, to INR 102.40 per kg in 866 lots.
At the Multi Commodity Exchange, the May contract traded lower by INR 0.40, or 0.38%, to INR 103.90 per kg in 74 lots.
Prices fell as speculators reduced their positions.
Further, subdued domestic spot markets demand also weighed on the metal prices.
Downtrend in base metals at the London Metal Exchange on concern that demand from China, the biggest consumer of metals will decline.
International Monetary Fund IMF trimmed its forecast for China's 2013 growth to 8% from 8.2% after World Bank cut the forecast to 8.3% on April 15.
At the Multi Commodity Exchange, the May contract traded lower by INR 0.40, or 0.38%, to INR 103.90 per kg in 74 lots.
Prices fell as speculators reduced their positions.
Further, subdued domestic spot markets demand also weighed on the metal prices.
Downtrend in base metals at the London Metal Exchange on concern that demand from China, the biggest consumer of metals will decline.
International Monetary Fund IMF trimmed its forecast for China's 2013 growth to 8% from 8.2% after World Bank cut the forecast to 8.3% on April 15.
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