Aluminium futures slide 0.13% on weak demand, overseas cues

Aluminium prices declined 0.13 per cent to Rs 114.80 per kg in futures trade today as speculators reduced positions amid weak demand in spot market.



Besides, weakness in select base metals at the London Metal Exchange ( LME) put pressure on aluminium futures here.



At the Multi Commodity Exchange ( MCX), aluminium for delivery in March traded lower by 15 paise, or 0.13 per cent, to Rs 114.80 per kg in a business turnover of just one lot.



Likewise, the metal for delivery in current month shed five paise, or 0.04 per cent, to Rs 113.90 per kg in 42 lots.



Analysts said offloading of positions by speculators due to sluggish demand in spot market and a lower trend overseas mainly influenced aluminium prices at futures trade.



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Posted in: Indian Market Tips