Aluminium prices drifted lower by 0.86 per cent to Rs 150.70 per kg in futures trade today as speculators reduced bets, driven by a weak trend overseas amid easing demand in the spot market.
At the Multi Commodity Exchange, aluminium for delivery in May fell by Rs 1.30, or 0.86 per cent, to Rs 150.70 per kg in a business turnover of 94 lots.
Similarly, the metal for delivery in April contracts shed Rs 1.15, or 0.76 per cent, to Rs 149.85 per kg in 702 lots.
Analysts said offloading of positions by participants on a weak trend overseas after the US softened its stance on sanctions against Russian metals giant United Company Rusal, led to decline in aluminum prices at futures trade.
Meanwhile, aluminium for delivery in three-month dropped 1.2 per cent to USD 2,266.50 a metric tonne on the London Metal Exchange.
Besides, easing demand from consuming industries in the physical market, too weighed on prices.