Aluminium rises by 0.2% on global cues

Aluminium futures rose by 0.23% to Rs 111.05 per kg today as speculators enlarged exposures on pick up in spot demand and a firming trend in base metals overseas.

At the Multi Commodity Exchange, aluminium prices for delivery in March traded higher by 25 paise, or 0.23%, at Rs 111.05 per kg in a business turnover of 136 lots.

Similarly, the metal for delivery in March traded higher by 20 paise, or 0.18%, to Rs 111.95 per kg in 69 lots.

Analysts said rising demand from consuming industries at domestic spot markets and the metal's strength at the London Metal Exchange (LME), where it rebounded from 10-month low before industrial output data from the world's largest metals consumer China, mainly influenced aluminium prices at futures trade here.

Globally, aluminium for delivery in three months at the LME climbed 0.4% to $1,768.50 a metric tonne.