Aluminium up by 0.5% on pick-up in demand

Aluminium futures edged higher by 0.50% to Rs 111.40 per kg today as speculators enlarged positions amid pick-up in demand at spot markets.

Besides, a firming trend in base metals pack at London Metal Exchange supported the upside.

At Multi Commodity Exchange, aluminium for delivery in March rose 55 paise, or 0.50%, to Rs 111.40 per kg with a business turnover of 612 lots.

The metal for delivery in April also gained 50 paise, or 0.45%, to trade at Rs 112.40 per kg in a turnover of 94 lots.

Traders said a firm trend in the metal at spot markets on increased demand from consuming industries, influenced aluminium prices at futures trade here.