Business Standard

Aluminium weakens on easing demand

Image

Press Trust of India New Delhi
Aluminium prices shed 0.57 per cent to Rs 148.25 per kg in futures trade today as speculators reduced bets amid easing demand in the spot market despite a firm trend overseas.
At the Multi Commodity Exchange, aluminium for delivery in May declined by 85 paise, or 0.57 per cent, to Rs 148.25 per kg in a business turnover of 257 lots.
Likewise, the metal for delivery in April contracts was trading lower by 55 paise, or 0.37 per cent, to Rs 148.25 per kg in 299 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical market weighed on aluminium prices at futures trade but a firm trend in base metals overseas limited the loss.
Globally, aluminium for delivery in three month Aluminium also edged up by 0.3 per cent on the London Metal Exchange, having posted its biggest weekly drop on Friday since 2008 at 10.6 per cent.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 30 2018 | 11:00 AM IST

Explore News