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Alumininum gains 0.35% in futures trade

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Press Trust of India New Delhi

Aluminium gained 0.35 per cent to Rs 100.20 per kg in futures trading today as speculators enlarged positions, tracking a firming trend in other base metals.

At the Multi Commodity Exchange, aluminium for October contract delivery rose by 35 paisa, or 0.35 per cent, to Rs 100.20 per kg, with a business turnover of two lots.

The metal for September contract delivery also edged up by 30 paisa, or 0.30 per cent, to Rs 99.10 per kg in a turnover of just one lot.

Meanwhile, at the London Metal Exchange, aluminium futures prices were flat at $2,165 a tonne.

Marketmen said apart from a better trend in the physical markets due to a pick up in demand, dollar weakness overseas boosted the commodity's appeal as an alternative investment, also helped aluminium futures to trade higher.

 

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First Published: Sep 17 2010 | 1:40 PM IST

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