Aluminium futures soften 0.96% on profit-booking

Aluminium prices declined by 0.96 per cent to Rs 108.40 per kg in futures trade today as traders booked profits at prevailing levels, driven by easing demand in the spot market amid weak trend overseas.
At the Multi Commodity Exchange, aluminium for delivery in far-month November fell by Rs 1.05, or 0.96 per cent to Rs 108.40 per kg in business turnover of 353 lots.
Similarly, the metal for delivery in October contracts traded lower by 85 paise, or 0.78 per cent to Rs 107.60 per kg in 2,920 lots.
Market analysts said besides profit-booking by participants, fall in demand from consuming industries in the spot market and a weak trend overseas, led to decline in aluminium prices at futures trade.

Meanwhile, aluminum for delivery in three month fell 1.3 per cent to USD 1,620 a metric tonne,the lowest since September 26 in yesterday's trade on the London Metal Exchange.