The Economic Times
Aluminium rises marginally in futures trade
Edited by : AL CIRCLE
1 min read
Aluminium prices rose by 0.14 per cent to Rs 107.85 per kg in the futures market today in line with a firming trend in base metals at the London Metal Exchange and a pick-up in domestic demand at spot markets.
At the Multi Commodity Exchange, aluminium for delivery in June rose by 15 paise, or 0.14 per cent, to Rs 107.85 per kg, with a turnover of 393 lots.
The metal for July delivery rose by a similar margin to trade at Rs 109.05 per kg, with a turnover of 18 lots.
Globally, aluminum gained 0.5 per cent to USD 1,963 per tonne at the London Metal Exchange (LME).
Market analysts attributed the rise in aluminium futures to rising spot demand and a firming trend in global markets on hopes that global policy makers will take steps to counter Europe's debt crisis and slowing growth.
At the Multi Commodity Exchange, aluminium for delivery in June rose by 15 paise, or 0.14 per cent, to Rs 107.85 per kg, with a turnover of 393 lots.
The metal for July delivery rose by a similar margin to trade at Rs 109.05 per kg, with a turnover of 18 lots.
Globally, aluminum gained 0.5 per cent to USD 1,963 per tonne at the London Metal Exchange (LME).
Market analysts attributed the rise in aluminium futures to rising spot demand and a firming trend in global markets on hopes that global policy makers will take steps to counter Europe's debt crisis and slowing growth.
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