Industry Info

Aluminium down 0.3% on global cues

Metal for delivery in November traded lower by 0.28%

Aluminium prices fell by 0.30% to Rs 107.95 per kg in futures trading today as speculators offloaded their positions driven by weak global trend on supply outlook.

At the Multi Commodity Exchange, aluminium for delivery in December declined by 40 paise, or 0.30%, to Rs 107.95 per kg in business turnover of 179 lots.

Similarly, the metal for delivery in November traded lower by 30 paise, or 0.28% to Rs 105.95 per kg in 232 lots.

Market analysts said speculators offloaded their positions in tandem with a weak global trend amid signs that the metal will remain in oversupply, weighed on aluminium prices at futures trade here.

Meanwhile, aluminium for delivery in three months fell $1,744 per tonne on the London Metal Exchange.

Source: Business Standard