Indian aluminum futures down on profit taking and weak global cues

Indian aluminum prices moved down by 0.40% to INR 112.30 per kilogram in futures trading amid a weak trend at the London Metal Exchange and subdued spot demand.

At the Multi Commodity Exchange, aluminum for delivery in May shed 45 paise or 0.40% to INR 112.30 per kilogram with a trade volume of 2,009 lots. The metal for delivery in June also fell by same margin to INR 113.05 per kilogram with a business turnover of seven lots.

Analysts said that a weak trend in most of the base metals overseas on demand concerns and a firming dollar mainly kept pressure on the aluminum futures prices here.