Uptick in demand, global cues lift aluminium futures by 1.34%

Aluminium prices edged up by 1.34 per cent to Rs 143.50 per kg in futures trade today as speculators built up fresh positions after pick up in demand in the spot market amid positive global cues.
At the Multi Commodity Exchange, aluminium for delivery in January inched up by Rs 1.90, or 1.34 per cent, to Rs 143.50 per kg, in a business turnover of 479 lots.
On similar lines, the metal for delivery in February traded higher by Rs 1.80, or 1.27 per cent, to Rs 143.50 per kg in 410 lots.
Analysts said participants created fresh positions due to pick up in demand from consuming industries in the spot market and strength in copper and other base metals overseas, mainly influenced aluminium prices at futures trade.