16 MAY 2013Business Standard
Aluminium weakens 0.4% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices fell by 0.44% to Rs 101.25 per kg in futures trading today, largely in tune with a weakening trend in the global markets on demand concern.
Further, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange (MCX), the May contract eased by 45 paise, or 0.44%, to Rs 101.25 per kg in 181 lots.
The June contract fell by a similar margin to trade at Rs 102.30 per kg in 11 lots.
At the London Metal Exchange (LME) aluminium traded 0.20% lower at $1,867 per tonne.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME 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 (MCX), the May contract eased by 45 paise, or 0.44%, to Rs 101.25 per kg in 181 lots.
The June contract fell by a similar margin to trade at Rs 102.30 per kg in 11 lots.
At the London Metal Exchange (LME) aluminium traded 0.20% lower at $1,867 per tonne.
Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME and subdued demand at domestic spot markets.
Previous article
China aluminum capacity cuts won't solve glut: CRU
Next articleTiwai smelter appeals backpay decision
Grow with
AL Circle
