Aluminium futures slip on muted demand

Aluminium prices on Monday softened 0.34 per cent to Rs 132.75 per kg in futures trade as speculators cut bets amid subdued demand in spot market. On the Multi Commodity Exchange, aluminium for delivery in May contracts eased by 45 paise, or 0.34 per cent, to Rs 132.75 per kg in a business turnover of 3,066 lots. However, the metal for delivery in June contracts was trading up by 70 paise, or 0.52 per cent, at Rs 134.40 per kg in 5 lots. Analysts said off-loading of positions by participants owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.