03 DECEMBER 2014Business Standard
Aluminium futures rise on global cues, spot demand
Edited by : AL CIRCLE
1 min read
Aluminium prices edged up by 0.61 per cent to INR 122.95 per kg in futures trade today as participants enlarged positions amid a firming trend overseas.
Besides, strong demand in spot markets influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in January 2015 inched up by 75 paise, or 0.61 per cent, to INR 122.95 per kg in a business turnover of 29 lots.
Likewise, the metal for delivery in December traded higher by 60 paise, or 0.49 per cent, to INR 122.60 per kg in 9 lots.
Marketmen said apart from increased domestic demand, a firming global trend as vehicle sales and construction spending beat estimates in the US, boosting demand prospects in the second-largest base metals consumer, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months advanced 0.3 per cent to USD 1,983.25 a metric tonne on the London Metal Exchange.
Besides, strong demand in spot markets influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in January 2015 inched up by 75 paise, or 0.61 per cent, to INR 122.95 per kg in a business turnover of 29 lots.
Likewise, the metal for delivery in December traded higher by 60 paise, or 0.49 per cent, to INR 122.60 per kg in 9 lots.
Marketmen said apart from increased domestic demand, a firming global trend as vehicle sales and construction spending beat estimates in the US, boosting demand prospects in the second-largest base metals consumer, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months advanced 0.3 per cent to USD 1,983.25 a metric tonne on the London Metal Exchange.
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