Aluminium futures slide on weak demand; global cues

Aluminium futures eased by 0.20 per cent to Rs 99.95 per kg on the first session of the 2016 today as speculators reduced positions amid weak demand at spot market and weakness in base metals overseas.
At the Multi Commodity Exchange, aluminium for delivery in January traded lower by 20 paise, or 0.20 per cent, to Rs 99.95 per kg, in a business turnover of 124 lots.
Analysts said offloading of positions by speculators due to sluggish demand at spot market and a weak trend in industrial metals, mainly weighed on aluminium prices.