Aluminium up 0.2% on global cues, spot demand
Metal firms up abroad as stronger-than-expected manufacturing data from China signals improving demand
)
Aluminium prices edged up by 0.21 per cent to Rs 121.70 per kg in futures trade today as participants enlarged positions amid a firming overseas trend.
Further, strong demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August inched up by 25 paise, or 0.21 per cent, to Rs 121.70 per kg in a business turnover of 106 lots.
The September contract traded higher by 20 paise, or 0.16 per cent, to Rs 122.10 per kg in 2 lots.
Marketmen said apart from increased domestic demand, a firming global trend in select base metals as stronger-than-expected manufacturing data from China, the largest metals consumer, signalling improving demand, helped aluminium futures to trade higher.
Further, strong demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August inched up by 25 paise, or 0.21 per cent, to Rs 121.70 per kg in a business turnover of 106 lots.
The September contract traded higher by 20 paise, or 0.16 per cent, to Rs 122.10 per kg in 2 lots.
Marketmen said apart from increased domestic demand, a firming global trend in select base metals as stronger-than-expected manufacturing data from China, the largest metals consumer, signalling improving demand, helped aluminium futures to trade higher.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Aug 01 2014 | 11:39 AM IST