Aluminium futures slide 0.91 pc on muted demand

Aluminium prices drifted lower by 0.91 per cent to Rs 119.85 per kg in futures trading today as traders reduced positions, driven by easing demand in the spot market.

At the Multi Commodity Exchange, aluminium for delivery in November declined by Rs 1.10, or 0.91 per cent to Rs 119.85 per kg in a business turnover of 297 lots.

Similarly, the metal for delivery in December shed 95 paise, or 0.79 per cent, to Rs 119.80 per kg in 28 lots.

Market analysts said offloading of positions by participants following easing demand from consuming industries at domestic spot markets, mainly led to the fall in aluminium prices at futures trade.