Indian aluminum futures remain in negative zone on global cues

ET reported that extending its yesterday's losses, aluminium futures prices fell by another 0.20% to INR 101.50 per kilogram after speculators trimmed their positions ahead of monthly expiry amid weak trend overseas.

At the Multi Commodity Exchange platform, aluminium for September month fell by 20 paise or 0.20% to INR 101.50 per kilogram with a turnover of 13 lots. Similarly, the metal for delivery in October also traded lower by 20 paise or 0.19% to INR 102.70 per kilogram with a business volume of 3 lots.

Marketmen said that the weakness in aluminium futures was mostly due squaring up of positions ahead of monthly expiry and weak trend in base metals on strong dollar which kept pressure on the commodity prices.