Aluminium prices inched up by 0.24 per cent to Rs 145.10 per kg in futures market today as speculators raised bets, driven by pick-up in demand in the spot market amid firm Asian cues.
At the Multi Commodity Exchange, aluminium for delivery in August edged up by 35 paise, or 0.24 per cent, to Rs 145.10 per kg in a business turnover of 427 lots.
Likewise, the metal for delivery in September contracts was trading higher by a similar margin to Rs 146 per kg in 42 lots.
Analysts said widening of positions by participants due to uptick in demand from consuming industries in the physical market and a higher Asian cues, mainly attributed to the rise in aluminium prices in futures trade.
Meanwhile, Shanghai aluminium climbed 0.9 per cent to 14,865 yuan a tonne, its highest since August 9, as Chinese smelters' costs increase.
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