 "Aluminium trades lower on weak global cues")
Aluminium prices fell over one% to Rs 118.90 per kg in futures trading today as speculators reduced exposure amid weak global trend.
At the Multi Commodity Exchange, aluminium for delivery in October declined by Rs 1.30, or 1.08%, to Rs 118.90 per kg in business turnover of 21 lots.
Similarly, the metal for delivery in the current month contracts traded lower by Rs 1.10, or 0.93%, to Rs 117.80 per kg in 162 lots.
Analysts said speculators offloaded their positions in tandem with a weakness in metal at the London Metal Exchange and subdued domestic demand, which mainly influenced aluminium prices at futures trade.
At the Multi Commodity Exchange, aluminium for delivery in October declined by Rs 1.30, or 1.08%, to Rs 118.90 per kg in business turnover of 21 lots.
Similarly, the metal for delivery in the current month contracts traded lower by Rs 1.10, or 0.93%, to Rs 117.80 per kg in 162 lots.
Analysts said speculators offloaded their positions in tandem with a weakness in metal at the London Metal Exchange and subdued domestic demand, which mainly influenced aluminium prices at futures trade.