07 APRIL 2014Business Standard
Aluminium futures rise on global cues, spot demand
Edited by : AL CIRCLE
1 min read
Aluminium prices edged up by 0.18 per cent to INR 109.80 per kg in futures trade today as participants enlarged their positions, supported by a firming overseas trend.
Further, strong demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in April inched up by 20 paise, or 0.18 per cent, to INR 109.80 per kg in business turnover of 110 lots.
Likewise, the metal for delivery in May traded higher marginally by 15 paise, or 0.14 per cent, to INR 111.15 per kg in 3 lots.
Marketmen said apart from increased domestic demand, a firming global trend on concern that global supply will be limited on longer delays to take delivery from warehouse and production cuts, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months on the London Metal Exchange traded higher at USD 1,846 per tonne in yesterday's trade.
Further, strong demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in April inched up by 20 paise, or 0.18 per cent, to INR 109.80 per kg in business turnover of 110 lots.
Likewise, the metal for delivery in May traded higher marginally by 15 paise, or 0.14 per cent, to INR 111.15 per kg in 3 lots.
Marketmen said apart from increased domestic demand, a firming global trend on concern that global supply will be limited on longer delays to take delivery from warehouse and production cuts, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months on the London Metal Exchange traded higher at USD 1,846 per tonne in yesterday's trade.
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