 "Aluminium rises by 0.2% on global cues")
Buoyed by firming trend overseas and rising spot demand, aluminium futures prices rose by 0.21% to Rs 120.90 per kg today as traders created fresh positions.
At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 25 paise, or 0.21%, to Rs 120.90 per kg, with a business turnover of 38 lots.
Metal for delivery in far-month January 2015 contracts rose by a similar margin to trade at Rs 121.90 per kg in business turnover of two lots.
Globally, aluminium for delivery in three months at the LME rose 0.50%, or $10 to $1,945,00 per tonne.
Meanwhile, aluminium inventories tracked by the LME dropped to 4.29 million tons on December 12, the lowest since January 2011, according to bourse data.
At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 25 paise, or 0.21%, to Rs 120.90 per kg, with a business turnover of 38 lots.
Metal for delivery in far-month January 2015 contracts rose by a similar margin to trade at Rs 121.90 per kg in business turnover of two lots.
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Market participants said besides rising demand at domestic spot markets, a firming trend in metal at the London Metal Exchange (LME) on speculation China will further stimulate the economy of the world's biggest metals consumer and as inventories fell to near a four-year low, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months at the LME rose 0.50%, or $10 to $1,945,00 per tonne.
Meanwhile, aluminium inventories tracked by the LME dropped to 4.29 million tons on December 12, the lowest since January 2011, according to bourse data.