Aluminium prices fell by 0.70% to Rs 113.70 per kg in futures trading today after speculators reduced their positions on the back of a weak trend at London Metal Exchange.
At the Multi Commodity Exchange, aluminium for August delivery declined by 80 paise, or 0.70%, to Rs 113.70 per kg, with a business turnover of 562 lots.
Similarly, the metal for September delivery shed 75 paise, or 0.65%, to Rs 114.70 per kg, with an open interest of 22 lots. The aluminium prices for July delivery gained 15 paise, or 0.13%, to Rs 113.25 per kg, with a business turnover of 193 lots.
Market analysts said apart from a weak trend at the London Metal Exchange, fall in spot market demand mainly led to the decline in aluminium futures prices.
Meanwhile, aluminium fell 0.3% to $2,578 a tonne at the LME.