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Buoyed by firming trend overseas and rising spot demand, aluminium futures prices rose by 0.21% to Rs 120.90 per kg today as traders created fresh positions.
At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 25 paise, or 0.21%, to Rs 120.90 per kg, with a business turnover of 38 lots.
Metal for delivery in far-month January 2015 contracts rose by a similar margin to trade at Rs 121.90 per kg in business turnover of two lots.
Market participants said besides rising demand at domestic spot markets, a firming trend in metal at the London Metal Exchange (LME) on speculation China will further stimulate the economy of the world's biggest metals consumer and as inventories fell to near a four-year low, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months at the LME rose 0.50%, or $10 to $1,945,00 per tonne.
Meanwhile, aluminium inventories tracked by the LME dropped to 4.29 million tons on December 12, the lowest since January 2011, according to bourse data.
