Aluminium down by 1.3% on overseas trend

Aluminium futures prices fell 1.35% to Rs 109.35 per kg today as speculators reduced positions amid a weak trend in base metals at the London Metal Exchange.

At the Multi Commodity Exchange, aluminium for delivery in January lost Rs 1.50 paise, or 1.35%, to Rs 109.35 per kg, with a business turnover of 247 lots.

The metal for delivery in February also shed Rs 1.45, or 1.30%, to trade at Rs 110.35 per kg in a turnover of 22 lots.

Marketmen said a weak trend in the base metals pack at the London Metal Exchange as slowing global growth dims the outlook for commodities and subdued demand from consuming industries at domestic spot markets, mainly put pressure on aluminium prices at futures trade here.