Aluminium futures fall on global cues

Aluminium prices fell by Rs 1.70 to Rs 109.65 per kg in futures trade today as speculators reduced their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, aluminium for January contract fell by Rs 1.70, or 1.53 per cent to Rs 109.65 per kg with a business turnover of 3 lots.

Similarly, the metal for delivery in November contract lost Rs 1.25, or 1.15 per cent to Rs 107.55 per kg with a business volume of 3 lots.

Market analysts said positions reduced by speculators on the back of a weak global trend led to the fall in aluminium futures prices.

Meanwhile, aluminium fell 1.6 per cent to $2,418.75 a metric tonne on the London Metal Exchange.