Aluminium futures rise on global cues, spot demand
New Delhi: Aluminium prices went up by 0.50 per cent to Rs 111.05 per kg in futures trade today as participants strengthened their positions, supported by an upward trend overseas.
Further, strong demand in the spot markets influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in April inched up by 45 paise, or 0.50 per cent, to Rs 111.05 per kg in business turnover of eight lots.
Also, the metal for delivery in March traded marginally higher by 45 paise, or 0.41 per cent, to Rs 110.10 per kg in 361 lots.
Globally, aluminium at the London Metal Exchange rose 0.6 per cent to USD 1,759 per tonne.
Marketmen said apart from increased domestic demand, a firming global trend where aluminium and other base metals rose after the dollar weakened and loan growth beat estimates in China, the world’s biggest consumer, mainly influenced metal prices at futures trade here.