Aluminium futures fell over 1 per cent during morning trade in the domestic market on Thursday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for aluminium at the domestic spot market.

Aluminium trading range for the day is 123.9-127.3.Aluminium gained as prices recovered on short covering despite of concerns that Chinese supply is rising. Chinas home price growth slowed for the fourth straight month as demand cooled further in the biggest cities, official data showed.Aluminum daily stocks at Shanghai exchange came up by 401 tonnes.

At the MCX, aluminium futures for February 2017 contract is trading at Rs 124.60 per kg, down by 1.15 %, after opening at Rs 125.50, against a previous close of Rs 126.05. It touched the intra-day low of Rs 124.50.

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