Aluminium down 0.4% on global cues
Sluggish demand in the domestic spot markets weighed on the metal prices
 "Aluminium down 0.4% on global cues")
Aluminium prices fell 0.42% to Rs 106.95 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 45 paise, or 0.42%, to Rs 106.95 per kg in business turnover of 83 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange on concern that demand in China will slow down and some banks tightened lending to the property sector.
Besides, subdued demand at domestic spot markets also put pressure on metal prices, they said.
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 45 paise, or 0.42%, to Rs 106.95 per kg in business turnover of 83 lots.
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Similarly, the metal for delivery in March traded lower by 45 paise, or 0.41%, to Rs 108.45 per kg in 31 lots.
Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange on concern that demand in China will slow down and some banks tightened lending to the property sector.
Besides, subdued demand at domestic spot markets also put pressure on metal prices, they said.