Aluminium futures rise on global cues, spot demand

Taking positive cues from global market and strong demand at domestic spot markets, aluminium prices edged up 0.52 per cent to Rs 105.80 per kg in futures trade today as participants enlarged positions.

Marketmen said increased domestic demand and a firming global trend where base metals gained with optimism that demand will recover in China after the government signaled increased support for the economy through higher spending and new measures to boost bank lending, helped aluminium futures to trade higher.

At the Multi Commodity Exchange, aluminium for delivery this month inched up by 55 paise or 0.52 per cent to Rs 105.80 per kg in a business turnover of 116 lots.
 

Likewise, the metal for delivery in March traded higher by 35 paise, or 0.33 per cent, to Rs 105.85 per kg in five lots.