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Alumininum futures marginally up on global cues

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Press Trust of India New Delhi

Buoyed by a firming trend at the London Metal Exchange, aluminium futures recovered by Rs 0.70 or 0.76 per cent at Rs 92.85 per kg today.

Firming trend in the Asian trade and pick up in domestic demand at the spot markets also supported the upside in aluminium futures prices.

At the Multi Commodity Exchange, aluminium for delivery in current-month May contract traded Rs 0.70, or 0.76 per cent higher at Rs 92.85 per kg, with an open interest of 2,263 lots.

The metal for delivery in June contract also moved up by Rs 0.70, or 0.75 per cent to Rs 93.55 per kg, with an open interest of 585 lots.

Analysts said firming trend at the global market and increased demand from domestic consuming industries at the physical market, helped aluminium to trade higher at futures market here.

Meanwhile, aluminium rose $21, or 1.05 per cent, to $2,022 per tonne, while at Shanghai, metal rose 85 yuan, or 0.56 per cent, at yuan 15,245 per tonne.

 

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First Published: May 20 2010 | 1:48 PM IST

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