Aluminum
prices drifted lower by 0.59 per cent to Rs 125.70 per kg in futures trading
today as speculators cut down positions, driven by easing demand at the spot
market. At the Multi Commodity Exchange aluminum for delivery in May declined
by 75 paisa, or 0.59 per cent to Rs 125.70 per kg in business turnover of 302
lots. Similarly the metal for delivery in June contracts traded lower by a
similar margin to Rs 125.60 per kg in 10 lots. Analysts said trimming of
positions by participants owing to slackened demand from consuming industries
in the spot market mainly influenced aluminum prices at futures trade.
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