Aluminium gains 0.25% in futures trade

Aluminium up by 0.25 per cent, or 25 paisa, to Rs 100.70 per kg in futures trade today, as speculators enlarged their positions, taking cues from firm overseas markets.

At the Multi Commodity Exchange platform, aluminium for October contract delivery rose by 25 paisa, or 0.25 per cent, to Rs 100.70 per kg, with a business turnover of 14 lots.

The metal for September contract delivery also edged up by 20 paisa, or 0.20 per cent, to Rs 99.50 per kg, with a turnover of 203 lots.

Meanwhile, at the London Metal Exchange counter, aluminium futures prices gained 0.80 per cent, to $2,198.50 a tonne.  

 

Marketmen said apart from a better trend in the physical markets due to pick up in demand, dollar weakness overseas boosted the commodity's appeal as an alternative investment, also helped the aluminium futures prices to trade higher.