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28. February 2012

Indian aluminum down on sluggish demand

PTI reported that Indian aluminum prices edged lower by 0.14% to INR 110.20 per kilogram in the futures market tracking a weak trend in global markets and subdued domestic demand.

At the Multi Commodity Exchange, the February contract for aluminum shed 35 paise or 0.14% to INR 110.20 per kilogram with a business volume of 188 lots.

In a similar fashion, the metal for March delivery moved down by 10 paise or 0.09% to INR 111.40 per kilogram in a turnover of 36 lots. Aluminum was trading 0.30% down at USD 2,274 per tonne at the London Metal Exchange in early trade.

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



Sourced from Press Trust of India

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