Aluminium down 0.5% on weak global cues

Metal for delivery in January traded lower by 0.49%

Aluminium prices fell by 0.50% to Rs 109.50 per kg in futures trading today as speculators offloaded their positions amid weak cues from global markets.

Besides, subdued demand in the domestic spot markets also weighed on metal prices.

At the Multi Commodity Exchange, aluminium for delivery in December declined by 45 paise, or 0.50%, to Rs 109.85 per kg in business turnover of 120 lots.

Similarly, the metal for delivery in January traded lower by 55 paise, or 0.49%, to Rs 111.55 per kg in four lots.

Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME after manufacturing data for China missed estimates and subdued demand at domestic spot markets.