30 DECEMBER 2013Business Standard
Aluminium up 0.1% on spot demand, short-covering
Edited by : AL CIRCLE
1 min read
Aluminium futures prices rose by 0.14% to INR 109.70 per kg today as speculators covered up their short positions on rising demand in spot markets even as metal weakened in the global markets.
At the Multi Commodity Exchange, aluminium for delivery in current month up by 15 paise, or 0.14%, to INR 109.70 per kg, with a business turnover of 27 lots.
Similarly, the metal for delivery in January contracts traded 10 paise, or 0.09%, higher at INR 111.25 per kg, with a business turnover of 7 lots.
Marketmen said covering-up of short position by speculators following a pick up in demand in spot markets and ending monthly settlement, helped aluminium futures to trade higher despite metal's weakness in the global market.
At the Multi Commodity Exchange, aluminium for delivery in current month up by 15 paise, or 0.14%, to INR 109.70 per kg, with a business turnover of 27 lots.
Similarly, the metal for delivery in January contracts traded 10 paise, or 0.09%, higher at INR 111.25 per kg, with a business turnover of 7 lots.
Marketmen said covering-up of short position by speculators following a pick up in demand in spot markets and ending monthly settlement, helped aluminium futures to trade higher despite metal's weakness in the global market.
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