Aluminium futures gain 0.65 pc on spot demand

Aluminium prices edged higher by 0.65 per cent to Rs 123.55 per kg in futures trading today as speculators built up fresh positions amid uptick in demand from consuming industries at the spot markets.
At the Multi Commodity Exchange, aluminium for delivery in April rose by 80 paise, or 0.65 per cent to Rs 123.55 per kg in business turnover of 381 lots.
Similarly, the metal for delivery in May contracts traded higher by 75 paise, or 0.61 per cent to Rs 124 per kg in 320 lots.
Analysts said building up of fresh positions by speculators following pick up in demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.