Aluminium futures shed on weak cues, low demand

Aluminium prices eased 0.04 per cent to Rs 147.15 per kg in futures trade Monday as speculators were engaged in reducing their positions, tracking a weak trend overseas.

Besides, fading demand from consuming industries at the domestic spot market fuelled the downtrend.

On the Multi Commodity Exchange, aluminium for May contracts declined 15 paise, or 0.04 per cent, to Rs 147.15 per kg in a business turnover of 1,464 lots.

However, the metal for June contracts was trading up by 25 paise, or 0.17 per cent, to Rs 148 per kg in 677 lots.