Aluminium rises on global cues, spot demand

Rise in aluminium prices at futures trade in line with firming trend in base metals at LME amid increasing demand from domestic consuming

Taking positive cues from the global markets and rising spot market demand, aluminium prices edged up by 0.39% to Rs 102.35 per kg at futures market.

At the Multi Commodity Exchange, the October contract for aluminium gained 40 paise, or 0.39%, to Rs 102.35 per kg, with a business turnover of 204 lots.

The November contract traded higher by 35 paise, or 0.34%, to Rs 104.15 per kg, with a business turnover of 124 lots.

Marketmen said the rise in aluminium prices at futures trade was in line with a firming trend in base metals at the London Metal Exchange amid increasing demand from domestic consuming industries.