Aluminium weakens by 0.7% on low demand
Speculators reduced exposure amid weak demand in the spot market
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Aluminium prices fell 0.68% to Rs 125 per kg in futures trading today as speculators reduced exposure amid weak demand in the spot market.
Besides, a weak trend in base metals in global market influenced zinc prices.
At the Multi Commodity Exchange, aluminium for delivery in December traded lower by Rs 85 paise, or 0.68%, to Rs 125 per kg in a business turnover of 757 lots.
Similarly, the metal for delivery in January next year edged down by 80 paise, or 0.64%, to Rs 125.15 per kg in 55 lots.
Analysts said speculators trimmed positions due to subdued demand in the spot market and a weakness in base metals at the London Metal Exchange.
Besides, a weak trend in base metals in global market influenced zinc prices.
At the Multi Commodity Exchange, aluminium for delivery in December traded lower by Rs 85 paise, or 0.68%, to Rs 125 per kg in a business turnover of 757 lots.
Similarly, the metal for delivery in January next year edged down by 80 paise, or 0.64%, to Rs 125.15 per kg in 55 lots.
Analysts said speculators trimmed positions due to subdued demand in the spot market and a weakness in base metals at the London Metal Exchange.
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First Published: Dec 01 2014 | 1:50 PM IST