20-11-2011
Aluminium futures down over 1.5 pc on global cues
Aluminium futures prices fell by 1.51 per cent to Rs 114.30 per kg in futures trade today as speculators engaged in reducing their positions in tandem with weakening global trend on demand concern.
At the Multi Commodity Exchange, aluminium for delivery in April contract fell by Rs 1.75, or 1.51 per cent, to Rs 114.30 per kg, with a business volume of three lots.
Similarly, the aluminium for Feburary contract traded lower by 35 paise, or 0.31 per cent to Rs 112.60 per kg, with a trade volume of five lots.
Analysts said losses in the entire base metals pack at the London Metal Exchange (LME) and slackened domestic demand, led to a fall in aluminium futures prices here.
Meanwhile, at the LME aluminium fell 0.8 per cent to USD 2,485 a tonne.
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