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16. February 2012

Indian aluminum weakens on global cues

PTI reported that Indian aluminum prices edged lower by 0.42% to INR 107.85 per kilogram in the futures market after speculators reduced positions taking weak cues from overseas markets amid sluggish spot demand.

At the Multi Commodity Exchange, aluminum for delivery in February shed 55 paise or 0.42% to INR 107.85 per kilogram with a business volume of 524 lots.

March aluminum moved down by 60 paise or 0.36% to INR 109.30 per kilogram in a turnover of 68 lots. Aluminum was trading flat at USD 2,210 per tonne on the London Metal Exchange in early trade.

Market analysts said that weak trend in base metals on the LME along with subdued spot demand, weighed down aluminum prices at futures trade.



Sourced from Press Trust of India

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