MCX aluminium falls by 0.3% on global cues

Aluminium prices were down 0.26% to INR 96.70 per kg in futures trade today as investors cut down their bets amid weak global cues and sluggish demand in the domestic spot markets.

In futures trading at the Multi Commodity Exchange, aluminium for delivery in current month eased by 25 paise, or 0.26%, to INR 96.70 per kg in a business turnover of 84 lots.

Similarly, the metal for delivery in December contract was trading lower by 25 paise, or 0.25%, at INR 98.25 per kg in five lots.

Marketmen said the weakness in aluminium at futures trade was mostly in tune with a weak trend at London Metal Exchange (LME) where most industrial metals slumped to multi-year lows on concerns over faltering Chinese demand and the dollar traded at its strongest in more than a decade.

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