Business Standard
Aluminium up 0.28% on rising demand
Edited by : AL CIRCLE
1 min read
Buoyed by a firming trend in base metals at the London Metal Exchange (LME), aluminium prices rose by 0.28% to Rs 106.30 per kg in the futures market today.
At the Multi Commodity Exchange, the February contract rose by 30 paise, or 0.28%, to Rs 106.30 per kg, with a business volume of 229 lots.
The March contract prices rose by 20 paise, or 0.19% to Rs 107.85 per kg in a turnover of 38 lots.
Globally, aluminum rose by 0.9% to $2,199.50 per tonne in early trade today at the LME.
Analysts said besides strength in the base metals pack at the LME after euro zone finance ministers reached an agreement on a second bailout plan for Greece, rising demand at spot markets also supported the rise in aluminium futures prices.
At the Multi Commodity Exchange, the February contract rose by 30 paise, or 0.28%, to Rs 106.30 per kg, with a business volume of 229 lots.
The March contract prices rose by 20 paise, or 0.19% to Rs 107.85 per kg in a turnover of 38 lots.
Globally, aluminum rose by 0.9% to $2,199.50 per tonne in early trade today at the LME.
Analysts said besides strength in the base metals pack at the LME after euro zone finance ministers reached an agreement on a second bailout plan for Greece, rising demand at spot markets also supported the rise in aluminium futures prices.
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