Aluminium futures slide on weak demand

Aluminium prices eased by 0.32 per cent to INR 108.90 per kg in futures trade today as speculators reduced positions amid weak demand at the spot market.

At the Multi Commodity Exchange, aluminium for delivery in July traded lower by 35 paise, or 0.32 per cent, to INR 108.90 per kg in a business turnover of 260 lots.

Likewise, the metal for delivery in August month shed 25 paise, or 0.23 per cent, to INR 110.45 per kg in 34 lots.

Analysts said offloading of positions by speculators due to sluggish demand at spot market mainly weighed on aluminium prices but a higher trend in base metals overseas, limited the losses.

INR 63.54 = 1 $ (Dollar)

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