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Aluminium futures rise on global cues, spot demand
Edited by : AL CIRCLE
1 min read
Aluminium prices moved up by 0.22 per cent to Rs 115.45 per kg at futures market, taking positive cues from the global markets and strong domestic demand.
At the Multi Commodity Exchange, aluminium for delivery in January gained 25 paise, or 0.22 per cent, to Rs 115.45 per kg, with a business turnover of 35 lots.
Similarly, the metal for delivery in December traded higher by 20 paise, or 0.17 per cent, to Rs 114.95 per kg, with a business turnover of 306 lots.
Marketmen said the rise in aluminium prices at futures trade was in line with a firming trend in base metals at the London Metal Exchange on speculation that China's plan to seek growth of higher quality and efficiency next year will bolster demand for industrial metals in the largest consumer.
Further, increasing demand from domestic consuming industries also supported the upside.
At the Multi Commodity Exchange, aluminium for delivery in January gained 25 paise, or 0.22 per cent, to Rs 115.45 per kg, with a business turnover of 35 lots.
Similarly, the metal for delivery in December traded higher by 20 paise, or 0.17 per cent, to Rs 114.95 per kg, with a business turnover of 306 lots.
Marketmen said the rise in aluminium prices at futures trade was in line with a firming trend in base metals at the London Metal Exchange on speculation that China's plan to seek growth of higher quality and efficiency next year will bolster demand for industrial metals in the largest consumer.
Further, increasing demand from domestic consuming industries also supported the upside.
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