10 JUNE 2016Business Standard
Aluminium up by 1% on global cues
Edited by : AL CIRCLE
1 min read
Aluminium prices edged up by INR 1.10 to INR 107.20 per kg in futures trade on Thursday, June 9, as participants enlarged their positions, supported by a strong spot demand in the physical market.
In futures trading at the Multi Commodity Exchange, Mumbai, aluminium for delivery this month inched up by INR 1.10 or 1.04 per cent to INR 107.20 per kg in a business turnover of 316 lots.
Likewise, the metal for delivery in July traded higher by INR 1.10 or 1.10 per cent to INR 107.95 per kg in 17 lots.
Traders said strength in the base metals pack at the London Metal Exchange (LME), spurred by an improving trade outlook in China and monetary stimulus by the European Central Bank and increased domestic demand from consuming industries at the spot markets, helped aluminium futures to trade higher.
At the LME, aluminium for delivery in three-month rose 0.7 per cent to $1,614.50 per tonne.
In futures trading at the Multi Commodity Exchange, Mumbai, aluminium for delivery this month inched up by INR 1.10 or 1.04 per cent to INR 107.20 per kg in a business turnover of 316 lots.
Likewise, the metal for delivery in July traded higher by INR 1.10 or 1.10 per cent to INR 107.95 per kg in 17 lots.
Traders said strength in the base metals pack at the London Metal Exchange (LME), spurred by an improving trade outlook in China and monetary stimulus by the European Central Bank and increased domestic demand from consuming industries at the spot markets, helped aluminium futures to trade higher.
At the LME, aluminium for delivery in three-month rose 0.7 per cent to $1,614.50 per tonne.
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