NEW DELHI, June 5: Aluminium futures prices fell 0.27 per cent to Rs 110.40 per kg today as speculators reduced positions amid a weak trend in base metals at the London Metal Exchange.
At Multi Commodity Exchange, aluminium for delivery in June contracts lost 70 paise, or 0.27 per cent, to Rs 110.40 per kg, with a business turnover of 324 lots.
The metal for delivery in July also shed 20 paise, or 0.18 per cent, to trade at Rs 111.95 per kg in a turnover of 8 lots.
Marketmen said a weak trend in the base metal pack at the London Metal Exchange after IMF said yesterday US economy would grow at 2.5 per cent this year, down from an earlier forecast of 3.1 per cent. This added to concerns that global demand for industrial metals will weaken, mainly putting pressure on aluminum prices.
Meanwhile, the Organization for Economic Cooperation and Development trimmed its forecast for world economic growth this year to 3.1 per cent from 3.7 per cent. (PTI)
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