Aluminium futures weaken on global cues

Aluminium prices fell 0.61 per cent to Rs 122.95 per kg in futures trading today, taking weak cues from global markets.

Further, subdued demand in the domestic spot markets also weighed on the metal prices.

At the Multi Commodity Exchange, aluminium for delivery in current months shed 75 paise, or 0.61 per cent, to Rs 122.25 per kg in business turnover of 192 lots.

Similarly, the metal for delivery in October contracts traded lower by 75 paise, or 0.60 per cent, to Rs 123.55 per kg in seven lots.

Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange (LME).
 

This was amidst data signalling industrial-output growth in China was the weakest in August since the global financial crisis, leading to moderation in investment and retail sales.