Aluminium rises on global cues, spot demand

Firming trend in base metals at the LME caused the increse

Aluminium prices today edged up by 0.27% to Rs 112.85 per kg at futures market on the back of strong domestic demand and firm global cues.

At the Multi Commodity Exchange, the December contract gained 30 paise, or 0.27%, to Rs 112.85 per kg, with a business turnover of 420 lots.

The January contract rose by 25 paise, or 0.22% to Rs 114.20 per kg in a business turnover of 68 lots.

Marketmen said the rise in aluminium prices at futures trade was in line with a firming trend in base metals at the London Metal Exchange on hopes that demand for the metals would rise after data showed Chinese industrial companies' profits rose 22.8% in November from a year ago to 638.5 billion yuan.