18 FEBRUARY 2014The Economic Times
Aluminium futures up 0.33 pc on overseas trend
Edited by : AL CIRCLE
1 min read
Aluminium prices today rose by 0.33 per cent to INR 105.60 per kg in futures trade mostly in line with a firming trend in the global markets.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, Aluminium for delivery in February rose by 35 paise, or 0.33 per cent to INR 105.60 per kg in a turnover of 124 lots.
The metal for delivery in March rose by a similar margin to trade at INR 107.10 per kg in a business volume of 7 lots.
Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in the global markets on output concerns after Alcoa Inc said it will close a smelter and United Co Rusal, the world's largest producer of the metal.
Globally, aluminium contract for delivery in three months on the London Metal Exchange added 0.2 per cent to $1,736.50 per tonne.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, Aluminium for delivery in February rose by 35 paise, or 0.33 per cent to INR 105.60 per kg in a turnover of 124 lots.
The metal for delivery in March rose by a similar margin to trade at INR 107.10 per kg in a business volume of 7 lots.
Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in the global markets on output concerns after Alcoa Inc said it will close a smelter and United Co Rusal, the world's largest producer of the metal.
Globally, aluminium contract for delivery in three months on the London Metal Exchange added 0.2 per cent to $1,736.50 per tonne.
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