Aluminium gains 0.14% on spot demand, global cues

Aluminium prices inched up by 0.14 per cent to Rs 144.10 per kg in futures trading today as speculators built up fresh positions following improved demand at the spot markets amid firm global cues.

At the Multi Commodity Exchange, aluminium for delivery in September was trading higher by 20 paise, or 0.14 per cent, to Rs 144.10 per kg in a business turnover of 3 lots.

Similarly, the metal for delivery in August edged up by 10 paise, or 0.07 per cent to Rs 143.20 per kg in 305 lots.

Analysts said fresh positions created by participants after uptick in demand from industries in the physical market and a firm trend overseas influenced aluminium prices in futures trade.

Meanwhile, at Shanghai futures Exchange aluminium was the biggest gainer, rising 1.5 per cent to 14,635 yuan a tonne, after a similar jump in London yesterday.