Aluminium futures gain 0.40% in India as demand picks up
Aluminium prices edged higher by 0.40 per cent to INR112.30 per kg in futures in the evening trading today as speculators enlarged positions, driven by rising demand from consuming industries in the spot market.
The exchange remained closed for the morning session on account of a religious festival.
At the Multi Commodity Exchange, aluminium for delivery in October month edged up by 45 paise, or 0.40 per cent to INR112.30 per kg in business turnover of 139 lots.
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Similarly, the metal for delivery in November contracts traded higher by 35 paise, or 0.31 per cent to INR112.85 per kg in 13 lots.
Analysts said increasing of positions by participants, driven by rising demand from consuming industries in the spot market, mainly led to rise in aluminium prices at futures trade.
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