Commodities

Aluminium futures down on weak LME cues

PTI New Delhi | Updated on June 02, 2011

Taking weak cues from London Metal Exchange (LME), aluminium prices moved down by 0.34 per cent to Rs 118.50 per kg at the futures trading today.

A weak trend at the spot market owing to subdued demand also kept pressure on prices at the futures trade.

At the Multi Commodity Exchange, aluminium for delivery in July shed 40 paise or 0.34 per cent to Rs 118.50 per kg with a trade volume of three lots. Likewise, the metal for delivery in June also fell by 15 paise or 0.13 per cent to Rs 118.20 per kg with a business turnover of four lots.

At the LME, aluminium lost 1.4 per cent to $2,630 per tonne.

Analysts said a weak trend in most of the base metals overseas on demand concerns in tandem with a subdued trend at the domestic spot market mainly kept pressure on the aluminium futures prices here.

Published on June 02, 2011

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