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Indian aluminum futures trade lower on lower global trend

PTI reported that Indian aluminium prices softened by 0.24% to INR 103.20 per kilogram in futures market as speculators reduced their positions in line with a weak trend at the London Metal Exchange.

At the Multi Commodity Exchange platform, aluminium for September month lost 25 paise or 0.24% to INR 103.20 per kilogram in a business turnover of 5 lots. The metal for delivery in October also shed INR 0.20 or 0.19% to INR 103.95 per kilogram with a business volume of seven lots.

Marketmen said that positions reduced by speculators amid weakening global trend helped aluminium prices to trade lower at futures trade. Meanwhile, aluminum fell 0.6% to USD 2,327 per tonne at the London Metal Exchange.

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