Aluminium futures gain 0.15% on higher global trend

Aluminium futures prices edged up by 0.15 per cent to Rs 102.50 per kg today, as speculators increased their holdings influenced by a firm global trend.

Increased demand in the spot market further fuelled the uptrend.

At the Multi Commodity Exchange counter, aluminium for delivery in November traded higher by 15 paise, or 0.15 per cent to Rs 102.50 per kg, with a business turnover of four lots. 

Similarly, the metal for delivery in December edged up by 15 paise, or 0.14 per cent to Rs 103.75 per kg, with a business volume of four lots. 

Marketmen said increased buying by speculators and reports of better price trend at the London Metal Exchange (LME) helped aluminium futures prices to trade at a higher level.

Meanwhile, aluminum at LME gained 0.5 per cent to $2,270 a tonne.