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Alumininum futures up 0.99% on good spot demand

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 2:54 AM IST

Buoyed by a firming trend at the spot market and at the London Metal Exchange, aluminium futures gained Rs 0.95, or 0.99 per cent, at Rs 96.60 per kg today.

At the Multi Commodity Exchange, aluminium for delivery in June contract traded up Rs 0.95, or 0.99 per cent, higher at Rs 96.60 per kg with a business volume of 15 lots. The metal for delivery in May contract also moved up by Rs 0.85, or 0.90 per cent, to Rs 95.40 per kg in a turnover of 43 lots.

Apart from firming trend at the domestic spot market and at London Metal Exchange on easing concerns about Greece's debt crisis, covering up short positions by speculators also supported the rise in aluminium prices at futures market here, analysts said.

Meanwhile, aluminium rose $32.50, or 1.57 per cent, to $2,105 per tonne, while at Shanghai, metal rose 145 Yuan, or 0.94 per cent, at Yuan 15,620 per tonne.

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First Published: May 10 2010 | 2:52 PM IST

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