Continuing its gaining streak for the fourth straight day, aluminium prices advanced by 0.25 per cent to Rs 121 per kg in futures trade today as speculators engaged in enlarging positions, taking positive cues from spot market on rising demand. At the Multi Commodity Exchange, aluminium for delivery in June edged up by 30 paise, or 0.25 per cent to Rs 121 per kg in business turnover of 119 lots. Similarly, the metal for delivery in July contracts traded higher by a similar margin to Rs 121.45 per kg in 15 lots. Analysts said widening of positions by traders on the back of surging demand from consuming industries mainly kept aluminium prices higher at futures trade.
Rising demand lifts aluminium futures by 0.25%
Press Trust of India |