Aluminium up 0.28% on firm global cues

Buoyed by a firming trend in base metals at the London Metal Exchange (LME), aluminium prices rose by 0.28% to Rs 106.30 per kg in the futures market today.

At the Multi Commodity Exchange, the February contract rose by 30 paise, or 0.28%, to Rs 106.30 per kg, with a business volume of 229 lots.

The March contract prices rose by 20 paise, or 0.19% to Rs 107.85 per kg in a turnover of 38 lots.

Globally, aluminum rose by 0.9% to $2,199.50 per tonne in early trade today at the LME.

Analysts said besides strength in the base metals pack at the LME after euro zone finance ministers reached an agreement on a second bailout plan for Greece, rising demand at spot markets also supported the rise in aluminium futures prices.