Business Standard

Aluminium rises almost 1% on spot demand

Prices edged up as participants enlarged their positions

Press Trust of India New Delhi
Aluminium futures for May inched up by 95 paise, or 0.98%, to Rs 98.15 per kg in 2,246 lots.     

At the Multi Commodity Exchange (MCX), the June contract traded higher by 95 paise, or 0.97%, to Rs 99.20 per kg in 241 lots.

Prices edged up as participants enlarged their positions amid strong spot markets demand.

Firming trend in the base metals overseas on optimism that the European Central Bank will cut interest rates to a record low and after the Federal Reserve said it will keep buying bonds, helped aluminium futures to trade higher.

On the London Metal Exchange (LME), aluminium gained 1.1% to $1,844.75 per tonne.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 02 2013 | 3:04 PM IST

Explore News