Aluminium futures drops 0.37 percent on muted demand

New Delhi, Sep 11 (PTI) Aluminium prices eased by 0.37 per cent to Rs 149.40 per kg in futures trading Tuesday as speculators cut bets amid easing demand at domestic spot market.

At the Multi Commodity Exchange, aluminium for delivery in September shed 55 paise, or 0.37 per cent, to Rs 149.40 per kg in a business turnover of 129 lots.

Similarly, the metal for delivery in October contracts was trading lower by 50 paise, or 0.33 per cent, to Rs 151.05 per kg in one lot.

Analysts said offloading of positions by participants on the back of subdued demand from consuming industries in the physical market and weak trend overseas as an intensifying trade dispute between the US and China raised concerns over demand for industrial metals, weighed on aluminium prices in futures trade.