Aluminium futures down on overseas trend

Aluminium futures prices fell 0.63 per cent to INR 126.35 per kg today as speculators reduced positions amid a weak trend in base metals at the London Metal Exchange.

At the Multi Commodity Exchange, aluminium for delivery in October month contracts lost 80 paise, or 0.63 per cent, to INR 126.35 per kg, with a business turnover of 15 lots.

The metal for delivery in September also shed 75 paise, or 0.59 per cent, to trade at INR 125.35 per kg in a turnover of 357 lots.

Marketmen said a weak trend in the base metals pack at the London Metal Exchange as stronger dollar curbed demand for commodities and subdued demand from consuming industries at domestic spot markets, mainly put pressure on aluminium prices at futures trade here.

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