Aluminium down 0.6% on global cues

Taking weak cues from global markets, aluminium prices fell 0.61% to INR 106.05 per kg in futures trading today as speculators offloaded their positions.

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

At the Multi Commodity Exchange, aluminium for delivery in May declined by 65 paise, or 0.61%, to INR 106.05 per kg in business turnover of four lots.

Similarly, the metal for delivery in April traded lower by 35 paise, or 0.33%, to INR 105.25 per kg in 8 lots.

Analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange on speculation that demand will slow as US Federal Reserve policymakers signalled a rise in interest rates by next year.

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