Muted global trend drives aluminium down 0.6% on MCX

Aluminium prices fell 0.64 per cent to INR 101.65 per kg on Multi Commodity Exchange (MCX) on Thursday after traders reduced their exposure amid weak global cues. Besides, sluggish demand in the domestic spot market weighed.

At MCX, aluminium for delivery this month eased 65 paise, or 0.64 per cent, to INR 101.65 per kg in a business turnover of 181 lots. Similarly, the metal for delivery in September traded lower by 55 paise, or 0.53 per cent, to INR 103.30 per kg in nine lots.

Marketmen said the weakness in base metal pack at the London Metal Exchange (LME) as China's yuan slid for the third day after its worst loss since 1994 and muted demand at the domestic spot market kept up the pressure. Meanwhile, aluminium prices fell 0.3 per cent at LME.

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