Aluminium futures gain 0.49% on global cues

Aluminium gained 0.49 per cent to Rs 103.40 per kg in futures trade after speculators widened positions amid positive cues from global markets.

Besides, increased demand at domestic spot markets influenced prices.

At the Multi Commodity Exchange, aluminium for delivery in August rose 50 paise, or 0.49 per cent, to Rs 101.75 per kg in a business turnover of 188 lots.

Also, the metal for delivery in September traded higher by 40 paise, or 0.39 per cent, to Rs 103.40 per kg in seven lots.

Market analysts said the rise in aluminium prices at futures trade was mostly supported by a recovery in metal at the London Metal Exchange and rising demand at spot markets here.