Published on 21/03/2017 11:21:48 AM | Source: Dion Global Solutions Ltd.
Subdued physical demand bites aluminium
Aluminium futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the industrial metal amid subdued 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 March 2017 contract is trading at Rs 124.45 per kg, down by 0.36 per cent, after opening at Rs 124.65, against a previous close of Rs 124.90. It touched the intra-day low of Rs 124.40 (at 10:45 hours).