Indian aluminium marginally down
Post Date: 12 Jul 2013 Viewed: 367
BS reported that Indian aluminium futures fell marginally by 0.28% to INR 105.90 per kilogram largely in tandem with a weakening trend in base metals overseas after China's exports and imports declined unexpectedly amid low spot demand.
At the Multi Commodity Exchange, aluminium prices for delivery in July traded 30 paise or 0.28%, lower at INR 105.90 per kilogram in a business turnover of 141 lots. Similarly, the metal prices for delivery in August traded just 5 paise or 0.05% down at INR 107.80 per kilogram in two lots.
Market analysts said that apart from subdued spot demand weakness in base metals at the London Metal Exchange following unexpected fall in China's exports and imports, mainly hit aluminium prices at futures trade. Concerns have been raised that the slowing economic growth will hurt metal demand in the world's largest user.