Aluminium down 0.3% on global cues

Metal for delivery in January traded lower by 0.28%

Taking weak cues from global markets, aluminium prices fell to Rs 106.75 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 February declined by 35 paise, or 0.33%, to Rs 106.75 per kg in a business turnover of 113 lots.

Similarly, the metal for delivery in January traded lower by 30 paise, or 0.28%, to Rs 105 per kg in 149 lots.

Globally, aluminium retreated to USD 1,726.50 per tonne, the lowest level since July 2009 at the London Metal Exchange (LME).

Analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the LME on concern that slowing economic growth in China, the world's largest user, may weaken demand for the metal.