Aluminium futures down 0.53 pc on global cues

NEW DELHI: Aluminium futures prices traded 0.53 per cent lower at Rs 103.80 per kg today, as speculators reduced their holdings amid a weak trend at the London Metal Exchange (LME) and sluggish spot demand.

At the Multi Commodity Exchange counter, aluminium for December delivery fell by 55 paisa, or 0.53 per cent, to Rs 103.80 per kg, with an open interest of five lots.

Aluminium for delivery in November also shed 50 paisa, or 0.49 per cent to Rs 102.50 per kg, with a trade volume of four lots.

At the LME, aluminium shed 0.17 per cent to USD 2,284 a tonne, while at Shanghai it fell by 2.18 per cent to 61,930 yuan per tonne in early trade today.

Marketmen said the weakness in aluminium futures was mostly due to a weak trend in the entire base metals pack at the LME.