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Aluminium futures down on global cues

Tuesday, Mar 26, 2013
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Taking weak cues from global markets, aluminium prices fell marginally to Rs 103.30 per kg in futures trading today as speculators offloaded their positions.


Further, sluggish demand in the domestic spot markets also weighed on the metal prices.


At the Multi Commodity Exchange, aluminium for delivery in March declined by 30 paise, or 0.29 per cent, to Rs 103.30 per kg in business turnover of 951 lots.


Similarly, the metal for delivery in April traded lower by 5 paise, or 0.05 per cent, to Rs 105.05 per kg in 352 lots.


Globally, aluminium retreated 0.9 per cent to USD 1,929 per tonne at the London Metal Exchange (LME).


Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the LME on demand concern and subdued spot demand.

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