 "Aluminium up by 0.2% on global trend")
Aluminium prices today rose by 0.18% to Rs 111 per kg in futures trade as speculators covered their short positions amid a firming trend overseas after stock position fell to a 6-year low.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in June rose 20 paise, or 0.18%, to Rs 111 per kg in a business turnover of six lots.
Meanwhile, aluminium for delivery in three months was up 0.5% at $1,747 per tonne at the London Metal Exchange (LME).
Market analysts said the rise in aluminium prices in futures trade was mostly attributed to a firming trend in metal at LME after inventories fell to a 6-year low and rising demand at spot markets besides covering of short positions by speculators.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in June rose 20 paise, or 0.18%, to Rs 111 per kg in a business turnover of six lots.
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The metal for delivery in May rose 10 paise, or 0.09%, to Rs 109.15 per kg in 67 lots.
Meanwhile, aluminium for delivery in three months was up 0.5% at $1,747 per tonne at the London Metal Exchange (LME).
Market analysts said the rise in aluminium prices in futures trade was mostly attributed to a firming trend in metal at LME after inventories fell to a 6-year low and rising demand at spot markets besides covering of short positions by speculators.
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