Aluminium futures down on poor global cues, less spot demand

Aluminium prices fell by Rs 0.75, or 0.79 per cent at Rs 93.85 per kg in futures trading yesterday, after taking cues from weak global markets.

Weak trend at domestic markets due to subdued demand from the consuming industries too pulled down aluminium prices.

At the Multi Commodity Exchange, aluminium for delivery July-month contract declined by Rs 0.75, or 0.79 per cent to Rs 93.85 per kg, with a turnover of four lots.

The metal for delivery in June contract also weakened by Rs 0.70 or 0.75 per cent to Rs 92.85 per kg, with a turnover of 157 lots.

At the London Metal Exchange, aluminium fell by $8, or 0.40 per cent to $1,984.00 per tonne.

Marketmen said apart from weak global trend, weak demand for the metal at physical markets also put some pressure on the aluminium prices at futures market