Aluminium up 0.3% on global cues, spot demand

Metal for delivery in January 2015 rose by 0.13%

Buoyed by firming trend overseas and rising spot demand, aluminium futures rose by 0.26% to Rs 117.80 per kg today as traders created fresh positions.

At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 30 paise, or 0.26%, to Rs 117.80 per kg, with a business turnover of 79 lots.

The metal for delivery in January 2015 rose by 15 paise, or 0.13%, to trade at Rs 118.70 per kg in a business turnover of 36 lots.

Market participants said besides rising demand at domestic spot markets, a firming trend in base metals overseas after data showed the US economy, the second-biggest consumer of the metal, grew at fastest pace since 2003, helped aluminium futures to trade higher.