Aluminium down 0.71% on profit-bookings

Aluminium prices declined by 0.71% to Rs 105.25 per kg in futures trade today as speculators indulged in booking profits at prevailing higher levels, driven by sluggish demand in the spot market.

At the Multi Commodity Exchange, the October contract for aluminium declined by 75 paise, or 0.71%, to Rs 105.25 per kg, with a business turnover of 2,738 lots.

The November contract shed 55 paise, or 0.51%, to Rs 106.50 per kg, with a business turnover of 254 lots.

Marketmen said profit-booking by speculators at prevailing higher levels, driven by sluggish demand in the spot market mainly kept pressure on aluminium futures.