Aluminium futures extend weakness on easing demand

Continuing for the fourth straight day, aluminium prices fell by another 0.21 per cent to Rs 117.65 per kg in futures trading today as speculators engaged in trimming their positions, driven by easing demand from consuming industries at domestic spot market.
At the Multi Commodity Exchange, aluminium for delivery in December declined by 25 paise, or 0.21 per cent, to Rs 117.65 per kg, in a business turnover of 142 lots.
Similarly, the metal for delivery in January 2017 was trading lower by a similar margin to Rs 117.10 per kg in one lot.
Market analysts said that offloading of positions by participants owing to slackened demand from consuming industries in the physical market, mainly kept aluminium prices lower at futures trade.