Aluminium futures edge up 0.38% on global cues

Aluminium futures prices moved up by 0.38 per cent to Rs 106.95 per kg today, largely in tandem with a firm trend in other base metals in global markets, as weaker dollar raised demand for commodities.

At the Multi Commodity Exchange, aluminium for delivery in December gained 40 paise, or 0.38 per cent, to Rs 106.95 per kg, with a business turnover of 38 lots, while delivery in November gained 40 paise, or 0.33 per cent, to Rs 105.90 per kg, with a business volume of just one lot. 

At the London Metal Exchange (LME), aluminium rose 1.4 per cent to $2,377 a tonne.

 

Marketmen said besides a firm trend in base metals in overseas markets after a weak dollar boosted demand for commodities, accelerated manufacturing in China, the world's largest consumer of the base metals, also supported the aluminium futures prices.