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Indian aluminium futures up on spot demand
Edited by : AL CIRCLE
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PTI reported that aluminum prices traded marginally higher by 0.36% to INR 111.05 per kilogram in futures trading as speculators enlarged their positions, driven by pick-up in spot market demand.
Firming trend in base metal in global markets also influenced the trading sentiment. At the Multi Commodity Exchange, aluminum for July delivery edged up by 40 paise or 0.36% to INR 111.05 per kilogram with a business turnover of 1,456 lots. August delivery traded higher by 35 paise or 0.22% to INR 112.15 per kilogram in 94 lots.
Traders said that speculators enlarged their positions in tandem with firming trend in global markets which helped aluminum futures prices to trade higher. Meanwhile, aluminum gained 0.4% to USD 2,501.25 per tonne on the London Metal Exchange.
Firming trend in base metal in global markets also influenced the trading sentiment. At the Multi Commodity Exchange, aluminum for July delivery edged up by 40 paise or 0.36% to INR 111.05 per kilogram with a business turnover of 1,456 lots. August delivery traded higher by 35 paise or 0.22% to INR 112.15 per kilogram in 94 lots.
Traders said that speculators enlarged their positions in tandem with firming trend in global markets which helped aluminum futures prices to trade higher. Meanwhile, aluminum gained 0.4% to USD 2,501.25 per tonne on the London Metal Exchange.
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