Aluminium Prices Dip Amid Weak Market Trends
Aluminium prices fell by 35 paise to Rs 311.40 per kg in futures trading, influenced by declining positions due to weak spot market trends. The March delivery contract on the Multi Commodity Exchange saw a 0.11% fall. Analysts attribute this to reduced demand from consuming industries.
- Country:
- India
On Friday, aluminium prices experienced a decline, dropping by 35 paise to settle at Rs 311.40 per kg in futures trading. This decrease comes as participants trimmed their positions amid a generally weak trend in spot markets.
Data from the Multi Commodity Exchange indicated a fall in aluminium for March delivery by 0.11% to Rs 311.40 per kg, involving 375 lots. The move is largely attributed to participants cutting down their positions.
Analysts point out that the softer aluminium prices are chiefly due to a decrease in demand from the consuming industries, impacting market confidence and driving positions downward.
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