Aluminium futures down in India
In New Delhi the price of aluminium futures fell by 0.29 per cent today to Rs 122.25 per kg ($2.01) as speculators reduced positions amid weak demand in the spot market.
According to The Economic Times, at the Multi Commodity Exchange, aluminium for delivery in September traded lower by 0.29 per cent in a business turnover of 182 lots.
Likewise, the metal for delivery in October shed 0.24 per cent, to Rs 123.60 ($2.03) per kg in 30 lots.
Analysts are of the opinion that offloading of positions by speculators due to sluggish demand in the spot market but firmness in base metals overseas restricted the losses.
