Aluminium futures up 0.78 per cent on global trends

Aluminium prices today rose by 0.78 per cent to Rs 122.30 per kg in futures trade mostly in line with a firming trend in the global markets.
Further, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in July rose by 95 paise, or 0.78 per cent, to Rs 122.30 per kg in business turnover of 4,854 lots.
Similarly, the metal for delivery in August traded higher by 80 paise, or 0.65 per cent, to Rs 122.90 per kg in 583 lots.
Analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in the global markets where it reached a 16-month high amid bets that demand will outstrip supply.

Besides, rising demand at domestic spot markets also supported the upside, they said.
Globally, aluminium for delivery in three months traded higher at USD 2,036 per tonne, the highest since February 2013.