Spot demand, global cues lift aluminium futures by 1.65 pc

Aluminium prices were up by 1.65 per cent to Rs 110.85 per kg in futures market today as speculators enlarged positions on the back of upsurge in spot demand.
A firming trend in global market also supported the upside.
At the Multi Commodity Exchange, aluminium for delivery in October month rose by Rs 1.80, or 1.65 per cent, to Rs 110.85 per kg in business turnover of 4,182 lots.
On similar lines, the metal for delivery in November contracts traded higher by Rs 1.55, or 1.41 per cent, to Rs 111.35 per kg in 1,175 lots.
Analysts said widening of positions by participants due to pick up in demand from consuming industries in the spot market amid a firm global trend, mainly led to rise in aluminium prices at futures trade.