Aluminium futures rise 0.38% as demand picks up

Aluminium prices were up by 0.38 per cent to Rs 117.75 per kg in futures trade today as speculators built up fresh positions, driven by uptick in demand from consuming industries at domestic spot market.

At the Multi Commodity Exchange, aluminium for delivery in December month edged higher by 45 paise, or 0.38 per cent to Rs 117.75 per kg in business turnover of 158 lots.

Similarly, the metal for delivery in January 2017 was trading up by 0.20 paise, or 0.17 per cent to Rs 116.45 per kg in 41 lots.

Marketmen said that fresh positions created by participants following pick up in demand from consuming industries in the physical market, mainly influenced aluminium prices at futures trade.