Aluminium down 0.29% on global cues

Aluminium prices fell by 0.29% to INR 121.95 per kg in futures trade today as speculators trimmed positions amid a weak global trend.

At the Multi Commodity Exchange, aluminium for delivery in July shed 35 paise, or 0.29%, to INR 121.95 per kg in a business turnover of 258 lots.

Likewise, the metal for delivery in August traded lower by 35 paise, or 0.28%, to INR 122.65 per kg in 30 lots.

Analysts attributed the fall in aluminium futures to a weak global trend ahead of data on China's manufacturing as some investors viewed recent rally to a 16-month high as overdone.

Meanwhile, aluminium for delivery in three months retreated 0.2% to $2,038.25 a metric tonne on the London Metal Exchange.

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