Aluminium down 0.3% on weak demand

Aluminium prices declined by 0.29% to Rs 122.25 per kg in futures trade today as speculators reduced positions amid weak demand in the spot market.

At the Multi Commodity Exchange, aluminium for delivery in September traded lower by 35 paise, or 0.29%, to Rs 122.25 per kg in a business turnover of 182 lots.

Likewise, the metal for delivery in October shed 30 paise, or 0.24%, to Rs 123.60 per kg in 30 lots.

Analysts said offloading of positions by speculators due to sluggish demand in the spot market but firmness in base metals overseas, restricted the losses.

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