Muted Physical Demand Bites Aluminium Futures

Aluminium futures were little changed during morning trade in the domestic market on Thursday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for aluminium at the domestic spot market. Further, a fall in physical demand for aluminium at the domestic spot market was due to trimming of positions by traders in the spot markets, influenced aluminium prices at futures trade. At the MCX, aluminium futures for May 2017 contract is trading at Rs 120.50 per kg, down by 0.08 per cent, after opening at Rs 120.65, against a previous close of Rs 120.60. It touched the intra-day low of Rs 120.45 (at 10:54 hours).
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Suhani Verma

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