Aluminium futures gain 0.56% on uptick in demand

Aluminium prices were up by 56 per cent to Rs 116.25 per kg in futures trade today as speculators built up fresh positions on pick up in demand from consuming industries at domestic spot market.
At the Multi Commodity Exchange, aluminium for delivery in December rose by 65 paise, or 0.56 per cent, to Rs 116.25 per kg, in a business turnover of 91 lots.
Similarly, the metal for delivery in January 2017 was edged up by 55 paise, or 0.48 per cent, to Rs 115.10 per kg in 75 lots.
Marketmen said that fresh positions created by traders due to uptick in demand from consuming industries in the physical market, mainly influenced aluminium prices at futures trade.