| Alumininum weakens in futures trade | |
| Press Trust of India / New Delhi Jul 29, 2010, 14:52 | | | | | |
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Aluminium traded a shade lower by Rs 0.25, or 0.26 per cent, at Rs 96.65 per kg in futures trade today after speculators booked profits amid approaching monthly expiry.
Weak demand at the physical markets and losses in base metals in global markets on weak US data also kept some pressure on the aluminium futures prices.
At the Multi Commodity Exchange counter, aluminium for delivery in August contract fell by Rs 0.25, or 0.263 per cent, to Rs 96.65 per kg, with a turnover of 42 lots.
The metal for delivery in July contract also eased by Rs 0.20, or 0.21 per cent, to Rs 95.70 per kg, with a turnover of 264 lots.
Marketmen said apart from profit-taking by speculators, losses in copper and other base metals in global markets after weak US data and the Federal Reserve's downbeat view on the economy, mainly dampened the aluminium sentiment, pulling down prices.
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