Aluminium futures up 0.48 pc on overseas cues

Aluminium prices edged up by 0.48 per cent to Rs 103.85 per kg in futures trade today as participants widened positions amid a firming trend overseas.

Strong demand in the spot market also influenced metal prices.

At the Multi Commodity Exchange, aluminium for delivery this month inched up 50 paise or 0.48 per cent to Rs 103.85 per kg in a business turnover of 303 lots.

Likewise, the metal for delivery in July traded higher by 30 paise or 0.29 per cent to Rs 104.60 per kg in 7 lots.

Marketmen said that apart from increased domestic demand, a firming trend in global markets, helped aluminium futures to trade higher.