Aluminium rises by 0.5% on global cues, spot demand

Aluminium prices edged up by 0.47% to Rs 106 per kg in futures trade today as participants engaged in enlarging positions, supported by a firming overseas trend.

 

Further, better demand in the spot markets also influenced metal prices.

 

At the Multi Commodity Exchange, aluminium for delivery in July inched up by 50 paise, or 0.47%, to Rs 106 per kg in business turnover of 540 lots.

 

Likewise, the metal for delivery in August traded higher by 40 paise, or 0.37%, to Rs 107.85 per kg in 534 lots.

 

Marketmen said apart from increased domestic demand, a firming trend in base metals overseas, influenced aluminium prices at futures trade.

 

Globally, aluminium gained 0.5% to $1,784 per tonne at the London Metal Exchange.