Global cues, spot demand lift aluminium futures by 0.17%

Amid firm global cues and pick up in spot demand at the domestic market, aluminium prices were up by 0.17 per cent at Rs 120.15 per kg in futures trade today as speculators enlarged positions.
At the Multi Commodity Exchange, aluminium for delivery in December month edged up by 20 paise, or 0.17 per cent, to Rs 120.15 per kg in business turnover of 391 lots.
On similar lines, the metal for delivery in November contracts traded higher by 15 paise, or 0.12 per cent to Rs 120.30 per kg in 2,576 lots.
Analysts said widening of positions by participants, driven by a firm trend overseas amid pick up in demand from consuming industries in the spot market, mainly led to rise in aluminium prices at futures trade.

Globally, aluminum for delivery in three months climbed 2.2 per cent to USD 1,760 a tonne on the London Metal Exchange.