Aluminium futures weaken as participants trim position

Aluminium prices fell by 0.32 per cent to Rs 109.10 per kg in futures trade today after traders reduced their exposure amid muted domestic demand and weak trend in base metals at the London Metal Exchange.
At Multi Commodity Exchange, aluminium for delivery in June eased 35 paise or 0.32 per cent to Rs 109.10 per kg in a business turnover of just one lot.
Also, the metal for delivery in current month traded lower by 25 paise or 0.23 per cent to Rs 108.50 per kg in 104 lots.
Marketmen said the apart from muted demand from consuming industries at the domestic spot markets, weakness in base metals at the London Metal Exchange (LME) after a private Chinese factory gauge showed contraction for a 14th month and the US manufacturing growth cooled, mainly weighed on aluminium futures here.