Aluminium prices surged by 3.14 per cent to Rs 174 per kg in futures trade today as speculators raised bets, tracking a firm trend at spot market on surging demand amid positive global cues.
At the Multi Commodity Exchange, aluminium for delivery in May shot up by Rs 5.30, or 3.14 per cent, to Rs 174 per kg in a business turnover of 1,722 lots.
Similarly, the metal for delivery in April gained Rs 4.60, or 2.73 per cent, to Rs 173.35 per kg in 6,649 lots.
Market analysts said raising of positions by traders due to pick up in demand in the physical market and firm global cues led to the rise in aluminium prices in futures trade.
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