Muted demand drag down aluminium futures by 0.59%

Aluminium prices drifted lower by 0.59 per cent to Rs 125.70 per kg in futures trading today as speculators cut down positions, driven by easing demand at the spot market.
At the Multi Commodity Exchange, aluminium for delivery in May declined by 75 paise, or 0.59 per cent to Rs 125.70 per kg in business turnover of 302 lots.
Similarly, the metal for delivery in June contracts traded lower by a similar margin to Rs 125.60 per kg in 10 lots.
Analysts said trimming of positions by participants owing to slackened demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.