08 AUGUST 2013Business Standard
Aluminium rises by 0.6% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices edged up by 0.64% to INR 109.30 per kg in futures trade today as participants indulged in enlarging positions, supported by a firming overseas trend.
Further, better demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August up by 70 paise, or 0.64%, to INR 109.30 per kg in business turnover of 310 lots.
Likewise, the metal for delivery in September traded higher by 65 paise, or 0.59%, to INR 110.40 per kg in 44 lots.
Marketmen said apart from increased domestic demand, a firming trend in base metals overseas after trade data in China, the biggest user, exceeded estimates, influenced aluminium prices at futures trade.
In the international market, aluminium gained 0.5% to $1,797 per tonne at the London Metal Exchange.
Further, better demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August up by 70 paise, or 0.64%, to INR 109.30 per kg in business turnover of 310 lots.
Likewise, the metal for delivery in September traded higher by 65 paise, or 0.59%, to INR 110.40 per kg in 44 lots.
Marketmen said apart from increased domestic demand, a firming trend in base metals overseas after trade data in China, the biggest user, exceeded estimates, influenced aluminium prices at futures trade.
In the international market, aluminium gained 0.5% to $1,797 per tonne at the London Metal Exchange.
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