Muted physical demand bites aluminium futures 23/06/2017

Muted physical demand bites aluminium futures
23/06/2017

Aluminium futures were little changed during morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the industrial metal amid subdued physical demand for aluminium at the domestic spot market. Further, a drop in physical demand for aluminium at the domestic spot market was due to trimming of bets by traders in the spot markets, influenced aluminium prices at futures trade. At the MCX, aluminium futures for June 2017 contract is trading at Rs 120.30 per kg, down by 0.08 per cent, after opening at Rs 120.35, against a previous close of Rs 120.40. It touched the intra-day low of Rs 120.25 (at 10:38 hours).

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