24 DECEMBER 2014The Economic Times
Aluminium rises on global cues, spot demand
Edited by : AL CIRCLE
1 min read
Buoyed by firming trend overseas and rising spot demand, aluminium futures prices rose by 0.25 per cent to INR 118.45 per kg today as traders created fresh positions.
At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 30 paise, or 0.25 per cent, to INR 118.45 per kg, with a business turnover of 19 lots.
Metal for delivery in the far-month January 2015 contracts rose by 15 paise, or 0.13 per cent, to INR 119.30 per kg in business turnover of five lots.
Market participants said besides rising demand at domestic spot markets, a firming trend in metal at the London Metal Exchange (LME) ahead of the US data projected to show expansion of goods orders and the world's largest economy growing more than initially estimated in the third quarter, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months at the LME rose 0.50 per cent, USD 1,888.75 per tonne.
At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 30 paise, or 0.25 per cent, to INR 118.45 per kg, with a business turnover of 19 lots.
Metal for delivery in the far-month January 2015 contracts rose by 15 paise, or 0.13 per cent, to INR 119.30 per kg in business turnover of five lots.
Market participants said besides rising demand at domestic spot markets, a firming trend in metal at the London Metal Exchange (LME) ahead of the US data projected to show expansion of goods orders and the world's largest economy growing more than initially estimated in the third quarter, helped aluminium futures to trade higher.
Globally, aluminium for delivery in three months at the LME rose 0.50 per cent, USD 1,888.75 per tonne.
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