26 MAY 2014Business Standard
Aluminium up 0.29% on global cues, spot demand
Edited by : AL CIRCLE
1 min read
Aluminium prices went up by 0.29 per cent to INR 104.65 per kg in futures trade today as participants strengthened their positions, supported by an upward trend overseas.
Further, strong demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in May inched up by 30 paise, or 0.29 per cent, to INR 104.65 per kg in business turnover of 125 lots.
June aluminium traded marginally higher by 25 paise, or 0.24 per cent, to INR 105.90 per kg in 73 lots.
Marketmen said apart from increased domestic demand, a firming global trend where Aluminium reached a three-week high in London on speculation that supplies of the metal will trail demand, mainly influenced metal prices at futures trade here.
Globally, aluminium for delivery in three months added one per cent to close at $1,814.50 a tonne on the London Metal Exchange.
Further, strong demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in May inched up by 30 paise, or 0.29 per cent, to INR 104.65 per kg in business turnover of 125 lots.
June aluminium traded marginally higher by 25 paise, or 0.24 per cent, to INR 105.90 per kg in 73 lots.
Marketmen said apart from increased domestic demand, a firming global trend where Aluminium reached a three-week high in London on speculation that supplies of the metal will trail demand, mainly influenced metal prices at futures trade here.
Globally, aluminium for delivery in three months added one per cent to close at $1,814.50 a tonne on the London Metal Exchange.
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