Aluminium futures rise 0.77% as demand picks up

Aluminium prices traded higher by 0.77 per cent to Rs 144.85 per kg in futures trade today as speculators built up fresh positions amid uptick in demand in the spot market.

At the Multi Commodity Exchange, aluminium for delivery in August edged up by Rs 1.10, or 0.77 per cent, to Rs 144.85 per kg in business turnover of 1,040 lots.

Similarly, metal for delivery in September was trading higher by Rs 95 paise, or 0.66 per cent, to Rs 145.65 per kg in 17 lots.

Analysts said, fresh positions created by participants on the back of upsurge in demand from consuming industries in the physical market mainly influenced aluminium prices at futures trade.