PTI reported that Indian aluminum prices fell by 0.70% to INR 113.70 per kilogram in futures trading after speculators reduced their positions on the back of a weak trend at London Metal Exchange.
At the Multi Commodity Exchange, aluminum for delivery in August declined by 80 paise or 0.70% to INR 113.70 per kilogram with a business turnover of 562 lots.
Similarly, the metal for delivery in September shed 75 paise or 0.65% to INR 114.70 per kilogram with an open interest of 22 lots. The aluminum prices for delivery in July gained 15 paise or 0.13% to INR 113.25 per kilogram with a business turnover of 193 lots.
Market analysts said apart from a weak trend at the London Metal Exchange, fall in spot market demand mainly led to the decline in aluminum futures prices. Meanwhile, aluminum fell 0.3% to USD 2,578 a tonne at the LME.
Sourced from Press Trust of India
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