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Aluminium futures marginally down on weak spot demand

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SummaryAluminium futures prices declined by 0.17 per cent to Rs 114.10 per kg.

Aluminium futures prices declined by 0.17 per cent to Rs 114.10 per kg today as speculators indulged in reducing their positions largely in tune with a weak spot demand.

However, gains in copper and other base metals at the London Metal Exchange (LME) capped the losses.

At the Multi Commodity Exchange, aluminium for delivery in January edged lower by 20 paise, or 0.17 per cent, to Rs 114.10 per kg, with a business turnover of 20 lots.

The metal for delivery in December fell by 15 paise to Rs 113.15 per kg in a turnover of 194 lots.

Marketmen said a weak trend at the spot markets owing to sluggish demand mainly put pressure on the aluminium prices at futures trade but a firming trend in base metals at the LME following positive US data, averted major fall.

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