Aluminium futures succumb to profit-booking, muted demand

Aluminium prices were down 0.23 per cent to Rs 109.45 per kg in futures trade today as investors reduced exposure to book profits even as metal strengthened overseas.
Besides, sluggish demand in the domestic spot markets weighed on the metal's prices.
At the Multi Commodity Exchange, aluminium for delivery in current month contracts traded 25 paise, or 0.23 per cent, to Rs 109.45 per kg in a business turnover of 209 lots.
Metal for delivery in May month fell by a similar margin to trade at Rs 110.05 per kg in 19 lots.
Marketmen said the weakness in aluminium in futures trade was mostly in tune with a weak trend at the spot markets due to sluggish demand and profit-booking by speculators but metal's weekend gain at the London Metal Exchange (LME), capped the losses.

Globally, aluminum for delivery in three months advanced 1.1 per cent to settle at USD 1,652.50 a metric tonne at the LME.