Aluminium futures edge higher by 0.65% as demand picks up

Aluminum prices were up 0.75 per cent to Rs 115.55 per kg in futures trading today as participants indulged in creating fresh positions, taking positive cues from spot market on pick up in demand from consuming industries.
At the Multi Commodity Exchange, aluminum for delivery in November month traded higher by 75 paise, or 0.65 per cent to Rs 115.55 per kg in business turnover of 3,036 lots.
Similarly, the metal for delivery in December contracts edged up by a similar margin to Rs 115.90 per kg in 469 lots.
Analysts said creating of fresh positions by traders backed by pick up in demand from consuming industries at the spot market, mainly led to rise in aluminum prices at futures trade.