Aluminium up 0.3% on global cues, pick-up in demand

A firming trend in base metals at the LME also supported the upside

Aluminium futures edged higher by 0.25% to Rs 119.90 per kg today as speculators enlarged positions amid pick-up in demand at spot markets.

Besides, a firming trend in base metals at the London Metal Exchange (LME) also supported the upside.

At the Multi Commodity Exchange, aluminium for delivery in July rose 30 paise, or 0.25%, to Rs 119.90 per kg, with a business turnover of 163 lots.

The metal for delivery in August also rose by a similar margin to trade at Rs 120.70 per kg in a turnover of 22 lots.

Marketmen said apart from a firming trend in base metals pack at the LME, rising demand at spot markets influenced aluminium prices at futures trade here.