Aluminium down 0.26%, hurt by muted demand

Aluminium prices eased 0.26 per cent and were trading at INR 95.15 per kg in futures trade today as speculators reduced exposure, driven by sluggish demand from consuming industries at the spot market amid weak trend overseas.

At the Multi Commodity Exchange, aluminium for delivery in October shed 25 paise, or 0.26 per cent to INR 95.15 per kg in business turnover of 620 lots. The November contract traded lower by 20 paise, or 0.21 per cent to INR 96.95 per kg in 144 lots.

Analysts said offloading of positions by speculators amid sluggish demand in the spot market and a weak trend in base metals at the London Metal Exchange, mainly led to decline in aluminium prices at futures trade.

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