Diminishing demand drags down aluminium futures by 1.15%
23/02/2017 11:58
Aluminium futures fell over 1 per cent during morning trade in the domestic market on Thursday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for aluminium at the domestic spot market.
Further, a drop in physical demand for aluminium at the domestic spot market was due to cut down of positions by traders in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for February 2017 contract is trading at Rs 124.60 per kg, down by 1.15 per cent, after opening at Rs 125.50, against a previous close of Rs 126.05. It touched the intra-day low of Rs 124.50 (at 12:00 hours).
23/02/2017 11:58
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Aluminium futures fell over 1 per cent during morning trade in the domestic market on Thursday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for aluminium at the domestic spot market.
Further, a drop in physical demand for aluminium at the domestic spot market was due to cut down of positions by traders in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for February 2017 contract is trading at Rs 124.60 per kg, down by 1.15 per cent, after opening at Rs 125.50, against a previous close of Rs 126.05. It touched the intra-day low of Rs 124.50 (at 12:00 hours).
