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Aluminium futures up on overseas cues

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Press Trust of India New Delhi
Aluminium prices edged up by 0.74 per cent to Rs 102.35 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 in August inched up 75 paise, or 0.74 per cent, to Rs 102.35 per kg in a business turnover of 199 lots.

Likewise, the metal for delivery in September traded higher by 60 paise, or 0.58 per cent, to Rs 104.30 per kg in 65 lots.

Marketmen said that apart from increased domestic demand, a firming trend in global markets as US economic data that beat analysts' estimates boosted the outlook for metals demand, helped aluminium futures to trade higher.
 

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First Published: Aug 28 2015 | 11:42 AM IST

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