Aluminium futures edges up 0.68%

Aluminium traded 0.68 per cent higher in futures trading today after speculators enlarged their positions, driven by firming trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange counter, aluminium for delivery in March gained 75 paise, or 0.68 per cent, to Rs 110.25 per kg, with a business turnover of two lots.

The metal for delivery in February also strengthened by 45 paise, or 0.41 per cent, to Rs 109.20 per kg, with a trading volume of three lots.

Meanwhile, at the LME aluminium rose 0.8 per cent to $2,405.25 per tonne. 

Market analysts said firming trend in the entire base metals pack at the LME after US new home sales topped estimates and the US Federal Reserve maintained stimulus efforts, bolstering the demand outlook for base metals, influenced aluminium futures prices here.