Aluminium futures down on profit-taking, global cues

Aluminium futures prices fell by 0.14 per cent, to Rs 105.70 per kg today after speculators booked profits amid weak trend overseas.

At the Multi Commodity Exchange platform, aluminium for October-month fell by 15 paise, or 0.14 per cent, to Rs 105.70 per kg, with a turnover of six lots. 

Similarly, the metal for delivery in November also traded lower by 10 paise, or 0.09 per cent, to Rs 106.70 per kg, with a business volume of two lots.

Marketmen said the weakness in aluminium futures was mostly due to profit-taking by speculators, triggered by weak trend in base metals on prospects of tightening credit by China, the world's largest consumer of metal. 

 

Meanwhile, aluminium in London fell 0.5 per cent to $2,389 per tonne.