Aluminium futures rise 2.16% as demand picks up

Aluminium prices were higher by 2.16 per cent to Rs 132.40 per kg in futures trade today as speculators built up fresh positions, driven by pick up in demand at the spot market.
At the Multi Commodity Exchange, aluminium for delivery in September went up by Rs 2.80, or 2.16 per cent to Rs 132.40 per kg in business turnover of 492 lots.
Similarly, the metal for delivery in August was trading higher by Rs 2.75, or 2.13 per cent to Rs 131.70 per kg in 986 lots.
Analysts said fresh positions created by participants on the back of rise in demand from consuming industries in the spot market, mainly attributed the rise in aluminium prices at futures trade.