Indian aluminum futures down over 2pct on global cues

ET reported that Indian aluminum futures prices fell by 1.51% to INR 114.30 per kilogram in futures trade as speculators engaged in reducing their positions in tandem with weakening global trend on demand concern.

At the Multi Commodity Exchange, aluminum for delivery in April contract fell by INR 1.75 or 1.51% to INR 114.30 per kilogram with a business volume of 3 lots. Similarly, the aluminum for Feburary contract traded lower by 35 paise or 0.31% to INR 112.60 per kilogram with a trade volume of 5 lots.

Analysts said that losses in the entire base metals pack at the London Metal Exchange and slackened domestic demand, led to a fall in aluminum futures prices here. Meanwhile, at the LME aluminum fell 0.8% to USD 2,485 per tonne.

（Sourced from Economic Times）