Aluminium futures slip 1.24% on low demand

Aluminium prices softened 1.24 per cent to Rs 147.55 per kg in futures trade Monday as speculators cut bets amid subdued demand at the spot market.

On the Multi Commodity Exchange, aluminium for delivery in May contracts eased by Rs 1.85, or 1.24 per cent, to Rs 147.55 per kg in a business turnover of 1,264 lots.

Analysts said, off-loading of positions by participants owing to slackened demand from consuming industries at the spot market mainly weighed on the aluminium prices here.