Aluminium up by 0.4% on strong demand

Aluminium prices edged up 0.44% to Rs 103.35 per kg in the futures trading today as participants enlarged positions, supported by strong demand in the spot markets and base metals strengthened overseas.

Aluminium for delivery in current month inched up 45 paise, or 0.44%, to Rs 103.35 per kg in a business turnover of 141 lots in futures trade at the Multi Commodity Exchange.

Likewise, the metal for delivery in March was trading higher 45 paise, or 0.43%, to Rs 104.10 per kg in one lot.

Marketmen said besides increased domestic demand, strength in base metals pack at the London Metal Exchange as China's central bank sought to support the property market with steps that may spur investment in the country and demand from the construction industry, helped aluminium futures to rise.