04 AUGUST 2014The Economic Times
Aluminium futures rise on global cues, spot demand
Edited by : AL CIRCLE
1 min read
Aluminium prices edged up by 0.21 per cent to INR 121.70 per kg in futures trade today as participants enlarged positions amid a firming overseas trend. Further, strong demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August inched up by 25 paise, or 0.21 per cent, to INR 121.70 per kg in a business turnover of 106 lots. Likewise, the metal for delivery in September traded higher by 20 paise, or 0.16 per cent, to INR 122.10 per kg in 2 lots.
Marketmen said apart from increased domestic demand, a firming global trend in select base metals as stronger than expected manufacturing data in China, the largest metals consumer, signalling improving demand, helped aluminium futures to trade higher.
At the Multi Commodity Exchange, aluminium for delivery in August inched up by 25 paise, or 0.21 per cent, to INR 121.70 per kg in a business turnover of 106 lots. Likewise, the metal for delivery in September traded higher by 20 paise, or 0.16 per cent, to INR 122.10 per kg in 2 lots.
Marketmen said apart from increased domestic demand, a firming global trend in select base metals as stronger than expected manufacturing data in China, the largest metals consumer, signalling improving demand, helped aluminium futures to trade higher.
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