Aluminium futures edge up on global cues

Aluminium futures prices moved up by 0.63 per cent to Rs 103.65 per kg today, in line with a firm trend in other base metals in global markets, as weaker dollar boosted demand for commodities.

At the Multi Commodity Exchange counter, aluminium for delivery in November gained 65 paise, or 0.63 per cent, to Rs 103.65 per kg, with a business turnover of 421 lots, while delivery in December gained 55 paise, or 0.53 per cent, to Rs 104.80 per kg, with a business volume of 64 lots.    

Meanwhile, the London Metal Exchange (LME) Index of prices for six industrial metals, including copper and aluminium rose 0.9 per cent.

Marketmen said firm trend in the base metals pack in overseas markets after a weak dollar boosted demand for commodities and firm trend at spot markets on the back of pick up in demand, also influenced the aluminium futures prices.