 "Aluminium up by 0.2% on global cues")
Aluminium prices today rose by 0.21% to Rs 119.50 per kg in futures trade as speculators covered their short positions amid a firming trend overseas.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in September rose by 25 paise, or 0.21%, to Rs 119.50 per kg in business turnover of 203 lots.
Meanwhile, aluminium was up 0.2% at $1,966.50 per tonne at the London Metal Exchange.
Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in select base metals at the London Metal Exchange and rising demand at spot markets besides covering-up of short positions by speculators.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in September rose by 25 paise, or 0.21%, to Rs 119.50 per kg in business turnover of 203 lots.
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The metal for delivery in October rose by 20 paise, or 0.17%, to Rs 120.65 per kg in 226 lots.
Meanwhile, aluminium was up 0.2% at $1,966.50 per tonne at the London Metal Exchange.
Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in select base metals at the London Metal Exchange and rising demand at spot markets besides covering-up of short positions by speculators.