Aluminium futures soften 0.43% on muted demand, global cues

Aluminium prices were down 0.43 per cent to Rs 103.15 per kg in futures trade today as speculators indulged in reducing exposure, triggered by sluggish demand from consuming industries at the spot market.
A weak trend overseas also weighed on aluminium futures.
At the Multi Commodity Exchange, aluminium for delivery in November traded lower by 45 paise, or 0.43 per cent to Rs 103.15 per kg in a business turnover of 561 lots.
On similar lines, metal for delivery this month shed 40 paise, or 0.39 per cent to Rs 101.60 per kg in 4,406 lots.
Analysts said offloading of positions by speculators amid subdued demand in the spot market and a weak trend in base metals at the London Metal Exchange, mainly led to decline in aluminium prices at futures trade.