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Industry Info

Aluminium futures down on weak global cues

Taking weak cues from global markets, aluminium prices fell marginally by 0.13 per cent, to Rs 113 per kg in futures trading today as speculators offloaded positions.

Besides, subdued demand in the domestic spot markets also weighed on the metal prices.

At the Multi Commodity Exchange, aluminium for delivery in October declined by 15 paise, or 0.13 per cent, to Rs 113 per kg in business turnover of 345 lots.

The metal for delivery in April fell by a similar margin to trade at Rs 114.50 per kg in 13 lots.

Analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange on speculation that the US Federal Reserve will begin scaling back monetary stimulus as the economy improves.

Source: Economic Times