Aluminium futures up 0.69% on positive global cues

Aluminium prices went up by 0.69 per cent to Rs 153.80 per kg in futures trade today as speculators created fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, aluminium for delivery in May rose by Rs 1.05, or 0.69 per cent, to Rs 153.80 per kg in business turnover of 217 lots.

Similarly, the metal for delivery in June contracts was trading higher by 90 paise, or 0.59 per cent, to Rs 154 per kg in 10 lots.

Analysts said building up of fresh positions by participants largely in line with a firm trend overseas where base metal prices made robust gains as the dollar softened, making metals cheaper for holders of other currencies, while positive data from top metals consumer China helped spur a rebound from losses in the previous session.

Markets are awaiting the outcome of two-day US-China trade talks in Beijing that end on Friday. A trade spat between the two countries has roiled metals markets in recent months.

Meanwhile, aluminium for delivery in three month rose 1.5 percent to USD 2,303 a tonne on the London Metal Exchange. having closed down 2.3 per cent on Thursday.