Muted physical demand bites aluminium futures
31/05/2017
Aluminium futures were little changed during morning trade in the domestic market on Wednesday 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 fall 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 124.20 per kg, down by 0.08 per cent, after opening at Rs 124.30, against a previous close of Rs 124.30. It touched the intra-day low of Rs 124.15 (at 10:45 hours).
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31/05/2017
Aluminium futures were little changed during morning trade in the domestic market on Wednesday 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 fall 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 124.20 per kg, down by 0.08 per cent, after opening at Rs 124.30, against a previous close of Rs 124.30. It touched the intra-day low of Rs 124.15 (at 10:45 hours).
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