Spot demand lifts aluminium futures by 0.50%

Aluminium prices were up by 0.50 per cent to Rs 110 per kg in futures trade today as traders raised their bets, driven by pick up in demand in the spot market.
At the Multi Commodity Exchange, aluminium for delivery in August month edged up by 55 paise, or 0.50 per cent to Rs 110 per kg in business turnover of 276 lots.
Likewise, the metal for delivery in far-month September contracts traded higher by 45 paise, or 0.41 per cent to Rs 110.80 per kg in 104 lots.
Analysts said increasing of positions by participants due to pick up in demand from consuming industries in the spot market, helped aluminium prices to trade higher at futures trade.