Aluminium futures slide 0.65% on muted demand

Aluminium futures slide 0.65% on muted demand

17/11/2016 10:52

Aluminium futures were trading lower during the late morning trade in the domestic market on Thursday as participants indulged in trimming their bets in the industrial metal amid fall in physical demand for aluminium in the domestic spot market.

Further, a drop in physical demand for aluminium at the domestic spot market was due to cutting down of positions by traders in the spot markets, influenced aluminium prices at futures trade.

At the MCX, aluminium futures for November 2016 contract is trading at Rs 114.70 per kg, down by 0.65 per cent, after opening at Rs 115.20, against a previous close of Rs 115.45. It touched the intra-day low of Rs 114.50 (at 10:53 hours).

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