Aluminium futures shed 0.28% on global cues, low demand

Aluminium prices were down by 0.28 per cent to Rs 125.75 per kg in futures market today as speculators cut down their holdings, tracking a weak trend in base metals overseas and subdued demand at domestic spot markets.
At the Multi Commodity Exchange, aluminium for delivery in May fell by 35 paise, or 0.28 per cent to Rs 125.75 per kg in business turnover of 95 lots.
Similarly, the metal for delivery in June contracts traded lower by 25 paise, or 0.20 per cent to Rs 125.75 per kg in 15 lots.
Analysts said apart from a weak trend in the base metals pack at the London Metal Exchange (LME) after Moody's Investors Service downgraded China's credit rating and warned the country's debt position will worsen as its economic expansion slows, low demand at the domestic markets, led to fall in aluminium prices at futures trade here.