Aluminium futures edge higher by 0.34 pc on spot demand

Aluminium prices edged up by 0.34 per cent to Rs 132.80 per kg in futures market today as speculators created fresh positions amid uptick in demand in the spot market.

At the Multi Commodity Exchange, aluminium for delivery in January traded higher by 45 paise, or 0.34 per cent, to Rs 132.80 per kg in a business turnover of 42 lots.

Likewise, the metal for delivery in December edged up by 40 paise, or 0.30 per cent, to Rs 132.05 per kg in 303 lots.

Analysts attributed the rise in aluminium futures to fresh positions built up by traders due to improved demand from consuming industries in the physical market.