Aluminium futures slide on diminishing demand

Aluminium futures slide on diminishing demand

23/11/2016 11:12

Aluminium futures were trading lower during the morning trade in the domestic market on Wednesday as participants indulged in trimming their positions in the industrial metal amid slide in 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 November 2016 contract is trading at Rs 119.75 per kg, down by 0.33 per cent, after opening at Rs 119.95, against a previous close of Rs 120.15. It touched the intra-day low of Rs 119.65 (at 11:11 hours).

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