Aluminium futures rise 0.87% as demand picks up

Aluminium prices were up by 0.87 per cent to Rs 145.35 per kg in futures trade today as speculators built up fresh positions, taking positive cues from the spot market on pick up in demand.

At the Multi Commodity Exchange, aluminium for delivery in August rose by Rs 1.25, or 0.87 per cent, to Rs 145.35 per kg in business turnover of 21 lots.

Likewise, the metal for delivery in July contracts edged up by Re 1, or 0.70 per cent, to Rs 144.85 per kg in 902 lots.

Analysts said fresh positions created by participants after upsurge in demand from consuming industries in the physical market influenced aluminium prices in futures trade.