Aluminium futures decline on lower global trend

Influenced by weak global trend, aluminium futures prices declined by Rs 0.95 to Rs 108.30 per kg today on reduced offtake by speculators.

At the Multi Commodity Exchange platform, aluminium for November contract declined by Rs 0.95, or 0.87 per cent to Rs 108.30 per kg, with a business turnover of 16 lots. 

Similarly, the metal for delivery in December traded lower by the same margin to Rs 109.35, with a business turnover of just one lot.

Market analysts said fresh offloading by speculators on the back of weakening global trend led to fall in aluminium futures prices.

Meanwhile, aluminium fell 0.8 per cent to $2,450 a tonne on the London Metal Exchange.