Aluminium prices edged lower on Monday, with futures contracts closing at Rs 308.75 per kilogram on the Multi Commodity Exchange, as traders reduced their positions amid softer global cues.
MCX Aluminium February Contract Declines 0.16%
On the Multi Commodity Exchange, aluminium for February delivery slipped by 50 paise, or 0.16 percent, to settle at Rs 308.75 per kilogram. The contract recorded a trading volume of 3,099 lots during the session, reflecting cautious participation.Market participants trimmed their exposure in response to a subdued trend in overseas markets, which influenced domestic sentiment.
Global Aluminium Prices Under Pressure on LME
In the international market, aluminium prices also remained under pressure. On the London Metal Exchange, the metal declined by USD 11.25, or 0.36 percent, to USD 3,084.50 per tonne.The weakness in global benchmarks weighed on domestic futures, contributing to the marginal decline seen on the MCX.
Sluggish Domestic Demand Adds to Pressure
Analysts attributed the soft movement in aluminium futures to a combination of weaker global trends and muted demand from domestic consuming industries. The cautious demand outlook further limited buying interest in the futures segment.With both domestic and international prices reflecting a mild correction, aluminium markets are currently tracking broader global cues and demand conditions closely.
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