28 MAY 2015economictimes.indiatimes
Aluminium prices rise by 0.36% in futures trade on overseas uptrend
Edited by : AL CIRCLE
1 min read
Aluminium prices today rose 0.36 per cent to INR110.55 per kg in futures trade as speculators enlarged positions amid a rising trend overseas.
Furthermore, increased demand at domestic spot markets influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in May rose 40 paise, or 0.36 per cent, to INR110.55 per kg in business turnover of 109 lots.
Similarly, the metal for delivery in June traded higher by 35 paise, or 0.31 per cent, to INR112.25 per kg in 24 lots.
Analysts said the rise in aluminium prices in futures trade was mostly attributed to a firming trend in the base metal pack at the London Metal Exchange (LME) as better- than-expected US new home sales and gains in Chinese industrial profits boosted the outlook for demand in the world's biggest metals consumers.
Furthermore, increased demand at domestic spot markets influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in May rose 40 paise, or 0.36 per cent, to INR110.55 per kg in business turnover of 109 lots.
Similarly, the metal for delivery in June traded higher by 35 paise, or 0.31 per cent, to INR112.25 per kg in 24 lots.
Analysts said the rise in aluminium prices in futures trade was mostly attributed to a firming trend in the base metal pack at the London Metal Exchange (LME) as better- than-expected US new home sales and gains in Chinese industrial profits boosted the outlook for demand in the world's biggest metals consumers.
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