Business Standard

Alumininum futures turn weak on profit booking

Image

Press Trust of India New Delhi

Aluminium traded a shade lower by Rs 0.15, or 0.16 per cent, at Rs 92.55 per kg in futures trade today, after tracking a weak trend at spot market on subdued demand, though the metal strengthened at the LME.

At the Multi Commodity Exchange counter, aluminium for delivery in July contract fell by Rs 0.15, or 0.16 per cent, to Rs 92.55 per kg, with a turnover of 2,556 lots.

The metal for delivery in July contract also eased by Rs 0.05, or 0.05 per cent, to Rs 93.65 per kg, with a turnover of 138 lots.

Marketmen said subdued demand for the metal at the physical market put pressure on the aluminium futures prices here, but gained at the London Metal Exchange (LME), where it rose 2.22 per cent, at $1,980 per tonne, capped losses.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 07 2010 | 2:36 PM IST

Explore News