Alumininum down 0.3% on weak global cues

Aluminium futures fell by 0.32% today after speculators reduced their positions, triggered by a weak trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange, aluminium for delivery in February fell by 35 paise, or 0.32%, to Rs 107.35 per kg, with a business turnover of 109 lots.

The March contract declined by 35 paise, or 0.32%, to Rs 108.85 per kg, with a trading volume of 8 lots.

Meanwhile, at the LME aluminium fell 0.5% to $2,190 per tonne.

Analysts said a weakening trend in the entire base metals pack at the LME after a decision on a second bailout for Greece was postponed, mainly kept pressure on the aluminium prices at futures trade here.