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This is an archive article published on April 13, 2010

Aluminium futures dip on weak spot demand

Aluminium futures prices fell by Rs 0.60 or 0.57 per cent to Rs 105.45 per kg.

Aluminium futures prices fell by Rs 0.60 or 0.57 per cent to Rs 105.45 per kg,as traders reduced their positions,driven by weak trend in spot markets.

Weakening trend in copper and other metals at the London Metal Exchange was an additional factor,behind fall in lead futures prices.

At the Multi Commodity Exchange platform,aluminium for delivery in April traded Rs 0.60,or 0.57 per cent,down at Rs 105.45 per kg in a turnover of 306 lots.

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The metal for delivery in May also edged lower by Rs 0.55,or 0.51 per cent,to Rs 106.40 per kg in turnover of 17 lots.

Analysts attributed the fall in aluminium futures prices to weak trend in the spot market and reduced demand from the consuming industries.

Meanwhile,at the LME aluminium down USD 20 or 0.83 per cent at USD 2,397 per tonne.

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