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03 FEBRUARY 2016 BUSINESS STANDARD

MCX aluminium down by 0.5% on global cues

1MINS 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.


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