Industry Info

Aluminium down 1% on overseas trend- Aluminium for delivery in September shed by 0.91%

Aluminium futures prices fell by 1% to Rs 118.45 per kg today as speculators trimmed positions amid a weak trend in metal at the London Metal Exchange.

At the Multi Commodity Exchange, aluminium for delivery in August lost Rs 1.20, or one%, to Rs 118.45 per kg, with a business turnover of 2,177 lots.

Aluminium for delivery in September also shed Rs 1.10, or 0.91%, to trade at Rs 120.20 per kg in a turnover of 480 lots.

Globally, aluminium fell by $14 at $1,931 a tonne at the London Metal Exchange (LME).

Marketmen said weakness in metal at the LME as investors waited for the minutes from the US central bank's July policy meeting for clues on when it will begin scaling back its commodities-friendly stimulus steps put pressure on aluminium prices at futures trade here.

Source: PTI