India aluminium futures up by 0.24% on increased demand
India aluminium prices on Multi Commodity Exchange rose by 0.24 per cent to INR 126.60 per kilogram during day trading hours on Friday, May 26 as demand picked up at the domestic spot market. Speculators in the futures trade also built up fresh positions leading to the price rise.
MCX aluminium for May 2017 delivery was up by INR 0.30 or 0.24 per cent to INR 126.60 per kg in a total business turnover of 209 lots.
MCX aluminium for June delivery also edged up by INR 0.25 or 0.20 per cent to INR 126.60 per kg in a business turnover of 53 lots.
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Market watchers opine that fresh positions created by the speculators and participants in the futures market following uptick in demand from the end user industries had mainly led to the rise in MCX aluminium prices.
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