Aluminium falls by 1.4% on global cues
Speculators trimmed positions amid a weak trend overseas and sluggish demand from consuming industries in the spot market
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Aluminium prices were down 1.45% to Rs 105.60 per kg in futures trading today after speculators trimmed positions amid a weak trend overseas and sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange, aluminium for delivery in September shed Rs 1.55, or 1.45% to Rs 105.60 per kg in business turnover of 597 lots.
On similar lines, metal for delivery in October was down by Rs 1.15, or 1.07%, to Rs 106.75 per kg with a volume of 55 lots.
Analysts said off-loading of positions by speculators, tracking a weak trend at the London Metal Exchange (LME) after the official purchasing managers index for manufacturing in China showed its worst reading since August 2012, cementing a broader picture of falling demand in China, weighed on aluminium prices at futures trade.
At the Multi Commodity Exchange, aluminium for delivery in September shed Rs 1.55, or 1.45% to Rs 105.60 per kg in business turnover of 597 lots.
On similar lines, metal for delivery in October was down by Rs 1.15, or 1.07%, to Rs 106.75 per kg with a volume of 55 lots.
Analysts said off-loading of positions by speculators, tracking a weak trend at the London Metal Exchange (LME) after the official purchasing managers index for manufacturing in China showed its worst reading since August 2012, cementing a broader picture of falling demand in China, weighed on aluminium prices at futures trade.
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First Published: Sep 01 2015 | 1:07 PM IST