 "Aluminium down 0.9% on global cues")
Aluminium prices edged lower by 0.92% to Rs 123.90 per kg in futures trade today as participants trimmed positions, tracking a weak overseas trend.
Further, subdued demand in the spot markets also put pressure on metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October shed Rs 1.15, or 0.92%, to Rs 123.90 per kg in business turnover of 20 lots.
Marketmen said apart from subdued domestic demand, a weakening global trend on concern that the US Federal Reserve is getting closer to tapering stimulus, weighed on aluminium futures here.
Further, subdued demand in the spot markets also put pressure on metal prices.
At the Multi Commodity Exchange, aluminium for delivery in October shed Rs 1.15, or 0.92%, to Rs 123.90 per kg in business turnover of 20 lots.
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Likewise, the metal for delivery in September traded lower by Rs 1.10, or 0.89%, to Rs 122.65 per kg in 242 lots.
Marketmen said apart from subdued domestic demand, a weakening global trend on concern that the US Federal Reserve is getting closer to tapering stimulus, weighed on aluminium futures here.