Aluminium futures up 0.42% on spot demand, global cues

Aluminium prices inched up by 0.42 per cent to Rs 132.60 per kg in futures trade Thursday as speculators created fresh positions amid rising spot demand and positive overseas trends.

At the Multi Commodity Exchange, aluminium for delivery in February edged up by 55 paise, or 0.42 per cent, to Rs 132.60 per kg in 4,226 lots.

Globally, aluminium rose 0.65 per cent to USD 1,868 per metric ton.

Analysts said positions built up by participants on the back of rising demand from consuming industries in the physical markets, coupled with positive global cues, led to the rise in aluminium prices.