Muted demand bites aluminium futures 09/05/2017

Muted demand bites aluminium futures
09/05/2017

Aluminium futures were little changed during morning trade in the domestic market on Tuesday 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 120.80 per kg, down by 0.08 per cent, after opening at Rs 121.10, against a previous close of Rs 120.90. It touched the intra-day low of Rs 120.75 (at 11:05 hours).

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