Aluminium prices inched up by 0.22 per cent to Rs 134.70 per kg in futures market Monday as speculators built up fresh positions, in sync with a firming trend overseas amid uptick in demand at the domestic spot markets.
At the Multi Commodity Exchange, aluminium for delivery in current month advanced by 30 paise, or 0.22 per cent to Rs 134.70 per kg in business turnover of 145 lots.
Market analysts said fresh positions created by traders due to improved demand in the physical market and an upward trend in the base metals pack at the London Metal Exchange (LME), mainly led to the rise in aluminium prices at futures trade.
At the LME, aluminium gained 0.4 per cent to a two-week high of USD 1,913 per tonne on Friday, driven by speculators covering their short positions.
Disclaimer: No Business Standard Journalist was involved in creation of this content