Aluminium futures fall 0.30 per cent on global cues

NEW DELHI: Aluminium prices fell by 0.30 per cent to Rs 107.95 per kg in futures trading today as speculators offloaded their positions driven by weak global trend on supply outlook.

At the Multi Commodity Exchange, aluminium for delivery in December declined by 40 paise, or 0.30 per cent, to Rs 107.95 per kg in business turnover of 179 lots.

Similarly, the metal for delivery in November traded lower by 30 paise, or 0.28 per cent to Rs 105.95 per kg in 232 lots.

Market analysts said speculators offloaded their positions in tandem with a weak global trend amid signs that the metal will remain in oversupply, weighed on aluminium prices at futures trade here.

Meanwhile, aluminium for delivery in three months fell USD 1,744 per tonne on the London Metal Exchange.