Aluminium futures soften by 0.25% on global cues

NEW DELHI, May 18: Aluminium prices shed 0.25 per cent to Rs 156.95 per kg in futures trade today as speculators reduced exposure amid a weak trend overseas.
At the Multi Commodity Exchange, aluminium for delivery  in June declined by 40 paise, or 0.25 per cent, to Rs 156.95 per kg in business turnover of 15 lots.
Similarly, the metal for delivery in May contracts fell by 30 paise, or 0.19 per cent, to Rs 156.10 per kg in 344 lots.
Analysts said offloading of positions by participants in line with a weak trend overseas where the metal slipped for a third session in a row as inventories increased, easing worries over a supply shortage in the aftermath of US sanctions on major Russian producer Rusal.
Globally, aluminium for three-month delivery was off 0.6 per cent at USD 2,280 tonne on the London Metal Exchange. (PTI)


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