Aluminium futures slide on diminishing demand

02/12/2016 10:55

Aluminium futures were trading lower during morning trade in the domestic market on Friday as participants indulged in offloading their positions in the industrial metal amid slide in physical demand for aluminium at the domestic spot market.

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

At the MCX, aluminium futures for December 2016 contract is trading at Rs 117.20 per kg, down by 0.17 per cent, after opening at Rs 117.50, against a previous close of Rs 117.40. It touched the intra-day low of Rs 117.20 (at 10:53 hours).

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