Aluminium down 0.13% on weak overseas trend

Traders trim positions as base metals decline in London and domestic demand weakens

Amid a weak trend in base metals at the London Metal Exchange (LME) and subdued domestic demand, aluminium futures prices fell 0.13 per cent to Rs 115.50 per kg today as speculators reduced positions.

At the Multi Commodity Exchange, aluminium for delivery in January shed 15 paise, or 0.13 per cent, to Rs 115.50 per kg, with a business turnover of 88 lots.

The February contract shed 10 paise, or 0.09 per cent, to trade at Rs 115.35 per kg in a turnover of nine lots.

Marketmen said a weak trend in copper and other base metals at the LME Before a gauge of manufacturing strength in China, the world's largest metal consumers and subdued demand from consuming industries at domestic spot markets, mainly put pressure on aluminium prices at futures trade here.