Aluminium futures drop 0.44% on muted demand

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Aluminium futures were trading lower during morning trade in the domestic market on Monday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for aluminium at the domestic spot market.

Further, a drop in physical demand for aluminium at the domestic spot market was due to trimming of positions by traders in the spot markets, influenced aluminium prices at futures trade. At the MCX, aluminium futures for April 2017 contract is trading at Rs 125.20 per kg, down by 0.44 per cent, after opening at Rs 125.20, against a previous close of Rs 125.75. It touched the intra-day low of Rs 125.15 (at 11:09 hours).

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