Lower participation and lack of trading interest has gripped Aluminium in the evening trades in domestic markets. LME and US markets are closed due to extended weekend on Memorial Day.
The prices have been facing acid test since last few weeks on deteriorating economic conditions in Europe. The $ 1 trillion relief package added little comfort to the metals segment in last one month. Last week, Spain derating again stirred the markets.
Meanwhile, Indian Aluminium futures are seen trading at Rs 94.50 per kg, almost similar to the last week close of Rs 94.40 per kg. The prices are supported at Rs 92-90 levels in coming days. Resistances for the contract are at Rs 95.95 per kg. In Mumbai Spot markets Aluminium was unchanged at Rs 94.80 per kg. Open interest in the contract added by a puny 35 contracts in a day so far.
In Shanghai Aluminium most active August contract was down by 110 yuan per tonne at the time of close and ended at 15290 yuan per tonne.
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