Indian aluminium futures slide 0.38pct on weak demand

BS reported that aluminium prices declined by 0.38% to INR 105.25 per kilogram in futures trade as speculators reduced positions amid weak demand in the spot market.

At the Multi Commodity Exchange, aluminium for delivery in May traded lower by 40 paise, or 0.38% to INR 105.25 per kilogram in a business turnover of 66 lots. Likewise, the metal for delivery in June shed 30 paise, or 0.28% to INR 106.75 per kilogram in 3 lots.

Analysts said that offloading of positions by speculators due to sluggish demand in the spot market and a lower trend in other base metals in global markets mainly influenced aluminium prices at futures trade.

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