Aluminium rises almost 1% on spot demand
Prices edged up as participants enlarged their positions
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Aluminium futures for May inched up by 95 paise, or 0.98%, to Rs 98.15 per kg in 2,246 lots.
At the Multi Commodity Exchange (MCX), the June contract traded higher by 95 paise, or 0.97%, to Rs 99.20 per kg in 241 lots.
Prices edged up as participants enlarged their positions amid strong spot markets demand.
Firming trend in the base metals overseas on optimism that the European Central Bank will cut interest rates to a record low and after the Federal Reserve said it will keep buying bonds, helped aluminium futures to trade higher.
On the London Metal Exchange (LME), aluminium gained 1.1% to $1,844.75 per tonne.
At the Multi Commodity Exchange (MCX), the June contract traded higher by 95 paise, or 0.97%, to Rs 99.20 per kg in 241 lots.
Prices edged up as participants enlarged their positions amid strong spot markets demand.
Firming trend in the base metals overseas on optimism that the European Central Bank will cut interest rates to a record low and after the Federal Reserve said it will keep buying bonds, helped aluminium futures to trade higher.
On the London Metal Exchange (LME), aluminium gained 1.1% to $1,844.75 per tonne.
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First Published: May 02 2013 | 3:04 PM IST