Aluminium rises by 0.6% on global cues

Aluminium prices edged up by 0.64% to Rs 109.30 per kg in futures trade today as participants indulged in enlarging positions, supported by a firming overseas trend.

 

Further, better demand in the spot markets also influenced metal prices.

 

At the Multi Commodity Exchange, aluminium for delivery in August up by 70 paise, or 0.64%, to Rs 109.30 per kg in business turnover of 310 lots.

 

Likewise, the metal for delivery in September traded higher by 65 paise, or 0.59%, to Rs 110.40 per kg in 44 lots.

 

Marketmen said apart from increased domestic demand, a firming trend in base metals overseas after trade data in China, the biggest user, exceeded estimates, influenced aluminium prices at futures trade.

 

In the international market, aluminium gained 0.5% to $1,797 per tonne at the London Metal Exchange.