Aluminium up 0.46% on global trend

Price rise due to firming trend on LME, after China's consumer inflation increased more than estimated, signalling stabilisation of demand

Aluminium prices were up by 0.46 per cent to Rs 99.15 per kg in futures trade today, largely in tune with a firming trend in base metals at the London Metal Exchange (LME).

Besides, increased demand at domestic spot markets also influenced prices.

At Multi Commodity Exchange, aluminium for delivery this month rose 45 paise or 0.46 per cent to Rs 99.15 per kg in a business turnover of 274 lots.

Metal for delivery in January also rose by 40 paise or 0.40 per cent to trade at Rs 100.05 per kg in two lots.

Globally, aluminum added 0.1 per cent at the LME.

Analysts said the rise in aluminium prices in futures trade was mostly in line with a firming trend in base metals at the LME after China's consumer inflation increased more than estimated, signaling demand in the world's second-largest economy may be stabilising after accelerated fiscal stimulus and a year of interest rate cuts.