Aluminium futures decline on lack of support

Aluminium prices lost moderate ground in futures trading today on lack of support from speculators on weakening trend in the overseas markets.

On the Multi Commodity Exchange, aluminium for April month contract declined by 0.21% to Rs 72.55 per kg in a trading volume of 42 lots.

The metal for May contract fell 0.20% to Rs 73.75 per kg in nine lots.

Marketmen said buying activity declined following reports that the base metals in the London Metal Exchange declined on falling demand.

They said a similar easing trend in the physical markets here further fuelled selling pressure.