29 SEPTEMBER 2016AlCircle.com
MCX aluminium up by 0.69% on global cues and spot demand
Edited by : Dipanwita Gupta
1 min read
<p>Firm trend in international market boosted demand in India spot market, buoyed by which aluminium prices surged 0.69 per cent to INR 109.45 per kg in futures trade today as traders in the aluminium industry created fresh positions. <br /><br />In futures trading at Mumbai's Multi Commodity Exchange (MCX), aluminium for delivery in September traded higher by 75 paise, or 0.69 per cent to INR 109.45 per kg against business turnover of 2,500 lots.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium%20wires.jpg" alt="News" width="480" height="420" /><br /><br />The uptick was evident in futures trading for aluminium for delivery in October contracts as well, as it inched higher by 65 paise, or 0.59 per cent to INR 110.05 per kg in 589 lots. <br /><br />Industry experts said fresh positions built up by the industry participants, supported by a firm trend overseas and spike in demand from the end user industries in the spot market, drove up aluminium prices at MCX futures trade. <br /><br />{googleAdsense}<br /><br />Meanwhile, aluminium for delivery in three-month edged up by 0.5 per cent on the London Metal Exchange.</p>
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