Aluminium futures weaken on lower global trend

Aluminium prices moved down by 0.17% to Rs 118.05 per kg in futures trading today as speculators reduced their positions on the back of a weakening global trend.

At the Multi Commodity Exchange, aluminium for delivery in April shed 20 paise, or 0.17% to Rs 118.05 per kg, with a business turnover of 19 lots.

Similarly, the metal for delivery in May traded lower by the same margin to Rs 118.85 per kg, with an open interest of two lots. 

Market analysts said speculators reduced their positions following weak global trend, which led to the decline of aluminium futures prices.

 

Meanwhile, aluminium dropped 0.5% to $2,661.75 a metric tonne on the London Metal Exchange.