Aluminium rises by 0.4% on rising demand

Aluminium prices were up by 0.39% to Rs 103.20 per kg in futures trade as traders enlarged positions, driven by pick up in demand at the spot market amid firm global trend.

At the Multi Commodity Exchange, aluminium for delivery in March month moved up by 40 paise, or 0.39% to Rs 103.20 per kg in business turnover of 10 lots.

Likewise, the metal for delivery in February contracts edged up by 30 paise or 0.29% to Rs 102.40 per kg in 92 lots.

Analysts said increasing of positions by participants due to pick up in demand from consuming industries at domestic spot markets and a firm global trend mainly led to rise in aluminium prices at futures trade.

Meanwhile, aluminum gained 0.3% at the London Metal Exchange.