25 SEPTEMBER 2014Business Standard
Aluminium futures rise on global cues, spot demand
Edited by : AL CIRCLE
1 min read
Aluminium prices went up by 0.30 per cent to INR 118.55 per kg in futures trade today as participants strengthened their positions, supported by an upward trend overseas.
Further, pick up in demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in September inched up by 35 paise, or 0.30 per cent, to INR 118.55 per kg in business turnover of 67 lots.
Likewise, the metal for delivery in October traded marginally higher by 35 paise, or 0.29 per cent, to INR 119.95 per kg in 7 lots.
Marketmen said apart from increased domestic demand, a firming global trend where Aluminium climbed as stockpiles declined to the lowest in 33 months and United Co Rusal, the biggest producer, forecast that demand will exceed supply next year, mainly influenced metal prices at futures trade here.
Globally, aluminium for delivery in three months added 0.30 per cent to trade at USD 1,969.25 a tonne on the London Metal Exchange.
Further, pick up in demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in September inched up by 35 paise, or 0.30 per cent, to INR 118.55 per kg in business turnover of 67 lots.
Likewise, the metal for delivery in October traded marginally higher by 35 paise, or 0.29 per cent, to INR 119.95 per kg in 7 lots.
Marketmen said apart from increased domestic demand, a firming global trend where Aluminium climbed as stockpiles declined to the lowest in 33 months and United Co Rusal, the biggest producer, forecast that demand will exceed supply next year, mainly influenced metal prices at futures trade here.
Globally, aluminium for delivery in three months added 0.30 per cent to trade at USD 1,969.25 a tonne on the London Metal Exchange.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Alba gets government approval for gas allocation for Line 6 project
Next articleNorsk Hydro: Svein Richard Brandtzæg stays on as Hydro CEO
Grow with
AL Circle
