Aluminium Futures Slip on Weak Trends
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Aluminium futures trade lower at Rs 308.75/kg on MCX due to weak overseas trends and tepid domestic demand. LME aluminium also depreciates.
New Delhi, Feb 16 (PTI) Aluminium prices traded lower to Rs 308.75 per kilogram in futures trade on Monday, as participants reduced their exposure, tracking weakness in the overseas markets.
On the Multi Commodity Exchange (MCX), aluminium for February delivery slipped 50 paise, or 0.16 per cent, to Rs 308.75 per kilogram in a business turnover of 3,099 lots.
Analysts said the weakness in aluminium futures was largely influenced by a soft trend in global rates and tepid demand from domestic consuming industries.
In the overseas market, aluminium on the London Metal Exchange (LME) depreciated by USD 11.25, or 0.36 per cent, to USD 3,084.50 per tonne. PTI HG HG ANU
ANU
On the Multi Commodity Exchange (MCX), aluminium for February delivery slipped 50 paise, or 0.16 per cent, to Rs 308.75 per kilogram in a business turnover of 3,099 lots.
Analysts said the weakness in aluminium futures was largely influenced by a soft trend in global rates and tepid demand from domestic consuming industries.
In the overseas market, aluminium on the London Metal Exchange (LME) depreciated by USD 11.25, or 0.36 per cent, to USD 3,084.50 per tonne. PTI HG HG ANU
ANU
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