Aluminium in reverse gear on diminishing demand 24/08/2016 13:44

Aluminium in reverse gear on diminishing demand
24/08/2016 13:44

Aluminium futures were trading lower during the afternoon trade in the domestic market on Wednesday as participants cut down their bets amidst sluggish physical demand for aluminium in the domestic spot market.
Further, a decrease in demand for aluminium at the domestic spot market was on the back of trimming of positions by traders in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for August 2016 contract is trading at Rs 111 per kg, down by 0.49 per cent, after opening at Rs 111.40, against a previous close of Rs 111.55. It touched the intra-day low of Rs 110.90 (at 13:42 hours).