Aluminium up 0.38% in futures trade

Aluminium futures rose by 0.38 per cent to Rs 118.60 per kg today as speculators enlarged exposures on pick-up in spot demand and a firming trend in base metals overseas.
At the Multi Commodity Exchange, aluminium prices for delivery in January traded higher by 45 paise, or 0.38 per cent, at Rs 118.60 per kg in a business turnover of 42 lots.
Similarly, the metal prices for delivery in December traded higher by 35 paise, or 0.30 per cent, to Rs 117.60 per kg in 80 lots.
Market analysts said rising demand at domestic markets and a firming trend in base metals overseas as signs of further slowing in China increase prospects of stimulus to spur economic growth in the biggest metals consumer, mainly influenced aluminium prices at futures trade here.

Globally, aluminium for delivery in three months at the London Metal Exchange gained 0.5 per cent to USD 1,869 a metric tonne.