Aluminium futures weaken by 0.56% on low demand

Aluminium prices fell by 0.56 per cent to Rs 123.65 per kg in futures trading today as speculators cut down positions, driven by tepid demand from consuming industries at spot market.
At the Multi Commodity Exchange, aluminium for delivery in April declined by 70 paise, or 0.56 per cent, to Rs 123.65 per kg, in a business turnover of 5,389 lots.
Similarly, the metal for delivery in May shed 50 paise, or 0.40 per cent, to Rs 124.20 per kg in 611 lots.
Analysts said trimming of positions by participants on the back of weak demand from consuming industries in the spot market, mainly influenced aluminium prices at futures trade.