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Aluminium weakens in futures trade on weak global cues

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Press Trust of India New Delhi

Taking weak cues from London Metal Exchange (LME), aluminium prices moved down by 0.34% to Rs 118.50 per kg in futures trading today.

A weak trend at the spot markets owing to subdued demand also kept pressure on metal prices at futures trade.

At the Multi Commodity Exchange, aluminium for delivery in July shed 40 paise, or 0.34% to Rs 118.50 per kg, with a trade volume of three lots.

The metal for delivery in June also fell by 15 paise, or 0.13% to Rs 118.20 per kg, with a business turnover of four lots.

At the LME, aluminium lost 1.4% to $2,630 per tonne.

Analysts said a weak trend in most of the base metals overseas on demand concerns in tandem with a subdued trend at the domestic spot markets mainly kept pressure on the aluminium futures prices here.

 

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First Published: Jun 02 2011 | 1:18 PM IST

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