03 FEBRUARY 2016Business Standard
MCX aluminium down by 0.5% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices fell 0.48% to INR 103.70 per kg in futures trading today with speculators indulged in cutting down their positions, taking weak cues from global markets.
Moreover, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in current month shed 50 paise, or 0.48%, to INR 103.70 per kg, in a business turnover of 134 lots. Metal for delivery in March fell 6 paise, or 0.38%, to INR 104.30 per kg in six lots.
Analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange (LME) on concern that supply gluts and waning demand in China will keep commodities under pressure.
Moreover, subdued demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in current month shed 50 paise, or 0.48%, to INR 103.70 per kg, in a business turnover of 134 lots. Metal for delivery in March fell 6 paise, or 0.38%, to INR 104.30 per kg in six lots.
Analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange (LME) on concern that supply gluts and waning demand in China will keep commodities under pressure.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Pacific Aluminium sackings spark new maritime row
Next articleHydro announces date and time for the release of Q4 2015 results
Grow with
AL Circle
