Aluminium futures edge higher 0.29% as demand picks up

Amid pick up in demand at the domestic spot market, aluminium prices were up by 0.29 per cent at Rs 119 per kg in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, aluminium for delivery in November edged up by 35 paise, or 0.29 per cent, to Rs 119 per kg, in a business turnover of 920 lots.
Likewise, the metal for delivery in December traded higher by 25 paise, or 0.21 per cent, to Rs 119 per kg in 443 lots.
Analysts said fresh position built up by participants, driven by pick up in demand from consuming industries in the spot market, mainly led to rise in aluminium prices at futures trade.