Aluminium futures rise by 0.57%

At the MCX, aluminium for delivery in February traded up by 60 paise to Rs 106.55 per kg in business turnover of 87 lots

Supported by a firming trend overseas and domestic demand, aluminium futures prices today edged higher by 0.57 per cent to Rs 106.55 per kg as speculators created positions.

At the Multi Commodity Exchange, aluminium for delivery in February traded up by 60 paise, or 0.57 per cent, to Rs 106.55 per kg in business turnover of 87 lots.

Similarly, the metal for delivery in March traded higher by 60 paise, or 0.56 per cent, to Rs 108.10 per kg in five lots.

Market analysts said reports of a firming trend in base metals at the London Metal Exchange after a report showed that China's new credit increased to a record last month, boosting demand prospects for industrial metals from the world's top consumer and rising spot demand, helped aluminium prices to rise at futures trade here.