01 SEPTEMBER 2014Business Standard
Aluminium futures gain 1.19% on overseas cues
Edited by : AL CIRCLE
1 min read
Aluminium prices rose 1.19 per cent to INR 127.70 per kg in the evening session of futures trade today as speculators enlarged positions amid positive cues from overseas markets.
Besides, increased demand from consuming industries in the spot market supported the uptrend.
There was no trading in morning session on account of "Ganesh Chaturthi".
At the Multi Commodity Exchange, aluminium for delivery in September moved up by INR 1.50, or 1.19 per cent, to INR 127.70 per kg in a business turnover of 1,497 lots.
Similarly, the metal for delivery in October was up by INR 1.50, or 1.18 per cent, to INR 128.45 per kg in 109 lots.
Marketmen said apart from a firm trend, shrinking supplies led to the rise in aluminium prices at futures trade.
Globally, aluminium for delivery in three months climbed 1.7 per cent to USD 2,117 after earlier touching USD 2,119.50, the highest since February 2013 on the London Metal Exchange.
Besides, increased demand from consuming industries in the spot market supported the uptrend.
There was no trading in morning session on account of "Ganesh Chaturthi".
At the Multi Commodity Exchange, aluminium for delivery in September moved up by INR 1.50, or 1.19 per cent, to INR 127.70 per kg in a business turnover of 1,497 lots.
Similarly, the metal for delivery in October was up by INR 1.50, or 1.18 per cent, to INR 128.45 per kg in 109 lots.
Marketmen said apart from a firm trend, shrinking supplies led to the rise in aluminium prices at futures trade.
Globally, aluminium for delivery in three months climbed 1.7 per cent to USD 2,117 after earlier touching USD 2,119.50, the highest since February 2013 on the London Metal Exchange.
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