Alumininum extend losses in futures trade

Aluminium traded lower by Rs 0.15, or 0.17 per cent, at Rs 90.65 per kg, in futures trading today in tandem with subdued demand at the physical market, though the metal strengthened in global markets.

At the Multi Commodity Exchange counter, aluminium for delivery in June contract fell by Rs 0.15, or 0.17 per cent, to Rs 89.55 per kg, with a turnover of 47 lots.

The metal for delivery in July contract also weakened by the similar margin to Rs 90.65 per kg, with a turnover of 76 lots.

Marketmen said subdued demand for the metal at the physical market put pressure on the aluminium prices at futures market here, but recovery at the London Metal Exchange, where it gained 0.26 per cent, at $1,955 per tonne capped losses.