Profit booking drags down aluminium futures by 0.60%

Aluminium prices softened by 0.60 per cent to Rs 132.60 per kg in futures trading today as speculators booked profits at prevailing levels, driven by easing demand in the spot market.

At the Multi Commodity Exchange, aluminium for delivery in September shed 80 paise, or 0.60 per cent to Rs 132.60 per kg in business turnover of 146 lots.

Likewise, the metal for delivery in August contracts traded lower by 75 paise, or 0.57 per cent to Rs 131.85 per kg in 761 lots.

Analysts said besides profit-booking by participants at existing level, easing demand from consuming industries in the spot market mainly weighed on aluminium prices at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)