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Aluminium futures edge up 0.13 pc on spot demand

Press Trust of India  |  New Delhi 

prices inched up 0.13 per cent to Rs 153.75 per kg in futures trade today as speculators created fresh positions amid improved demand in the spot market despite a weak trend overseas.

At the Multi Commodity Exchange, for delivery in May month edged higher by 20 paise, or 0.13 per cent to Rs 153.75 per kg in business turnover of 229 lots.

Likewise, the for delivery in June was trading higher by a similar margin to Rs 154.50 per kg in just 1 lot.

Analysts said fresh positions by participants due to uptick in demand from consuming industries in the physical market mainly led to the rise in prices at futures trade.

However, global cues were weak as the slid for the third consecutive session today as the market continued in correction mode after rallying last month on support from US sanctions against Rusal, the world's second-largest

Globally, aluminium for delivery in three-month was down 0.8 per cent at USD 2,269.50 a tonne on the London Exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 11:05 IST