Aluminium futures drop 0.53% on sluggish demand
02/05/2017
Aluminium futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators cut down their bets in the industrial metal amid subdued physical demand for aluminium at the domestic spot market.
Further, a rise in physical demand for aluminium at the domestic spot market was due to trimming of positions by traders in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for May 2017 contract is trading at Rs 123.15 per kg, down by 0.53 per cent, after opening at Rs 123.30, against a previous close of Rs 123.80. It touched the intra-day low of Rs 122.90 (at 10:18 hours).
02/05/2017
Aluminium futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators cut down their bets in the industrial metal amid subdued physical demand for aluminium at the domestic spot market.
Further, a rise in physical demand for aluminium at the domestic spot market was due to trimming of positions by traders in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for May 2017 contract is trading at Rs 123.15 per kg, down by 0.53 per cent, after opening at Rs 123.30, against a previous close of Rs 123.80. It touched the intra-day low of Rs 122.90 (at 10:18 hours).
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