Aluminium futures ease 2% on low demand

NEW DELHI: Aluminium prices on Thursday softened by 1.96 per cent to Rs 172.85 per kg in futures trade, as speculators cut bets amid subdued demand in spot market.

On the Multi Commodity Exchange, aluminium for March delivery eased by Rs 3.45 , or 1.96 per cent, to Rs 172.85 per kg in a business turnover of 969 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.