23 AUGUST 2013Business Standard
Aluminium up 0.7% on overseas trend
Edited by : AL CIRCLE
1 min read
Aluminium prices edged up by 0.74% to INR 122.85 per kg in futures trade today as participants engaged in enlarging positions, supported by a firming overseas trend.
Further, better demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in September up by 90 paise, or 0.74%, to INR 122.85 per kg in business turnover of 45 lots.
Likewise, aluminium for delivery in August traded higher by 85 paise, or 0.71%, to INR 121.30 per kg in 297 lots.
Marketmen said apart from increased domestic demand, a firming trend in base metals overseas as manufacturing index in China increased in August from an 11-month low, adding to signs the world's second-biggest economy is stabilizing, supported the upside in aluminum prices at futures trade.
In the international market, aluminium gained 0.6% at the London Metal Exchange.
Further, better demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in September up by 90 paise, or 0.74%, to INR 122.85 per kg in business turnover of 45 lots.
Likewise, aluminium for delivery in August traded higher by 85 paise, or 0.71%, to INR 121.30 per kg in 297 lots.
Marketmen said apart from increased domestic demand, a firming trend in base metals overseas as manufacturing index in China increased in August from an 11-month low, adding to signs the world's second-biggest economy is stabilizing, supported the upside in aluminum prices at futures trade.
In the international market, aluminium gained 0.6% at the London Metal Exchange.
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