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Aluminium futures up marginally as LME stocks decline

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 3:38 AM IST

Buoyed by declining stocks at the London Metal Exchange, aluminium futures gained Rs 0.15, or 0.16 per cent, at Rs 92.15 per kg today.

Short-covering of positions by speculators at lower levels and good demand at spot markets also influenced aluminium prices in futures trade.

At the Multi Commodity Exchange platform, aluminium for delivery in August contract shot Rs 0.15, or 0.16 per cent higher, at Rs 92.15 per kg, with a business volume of 3 lots.

The metal for delivery in July contract also moved up by Rs 0.10, or 0.11 per cent, to Rs 91.10 per kg, with a turnover of 180 lots.

Market analysts said apart from better trend at the domestic physical markets, decline in aluminium stocks also helped metal prices to recover in futures trade.

Meanwhile, aluminium stocks dropped by 6,050 tonnes, to 4.42 million tonnes at the London Metal Exchange.

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First Published: Jul 02 2010 | 1:43 PM IST

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