 "Aluminium up 0.7% on overseas trend")
Aluminium prices edged up by 0.71% to Rs 120.20 per kg in futures trade today as participants engaged in enlarging positions, supported by a firming Asian trend.
Further, better demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August traded up by 85 paise, or 0.71%, to Rs 120.20 per kg in business turnover of 230 lots.
Marketmen said apart from increased domestic demand, a firming trend in base metals at the Shanghai Futures Exchange amid speculation that the Federal Reserve may hold off on curbing stimulus measures in September, supported the upside in aluminium prices at futures trade.
Further, better demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August traded up by 85 paise, or 0.71%, to Rs 120.20 per kg in business turnover of 230 lots.
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Likewise, aluminium for delivery in September traded higher by 45 paise, or 0.54%, to Rs 121.15 per kg in 54 lots.
Marketmen said apart from increased domestic demand, a firming trend in base metals at the Shanghai Futures Exchange amid speculation that the Federal Reserve may hold off on curbing stimulus measures in September, supported the upside in aluminium prices at futures trade.
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