SG:Indian aluminium rises marginally in futures trade
ET reported that Indian aluminium prices rose by 0.24% to INR 103.35 per kilogram in the futures market today in line with a firming trend in base metals at the London Metal Exchange and a pick up in demand at the spot markets.
At the Multi Commodity Exchange, aluminium for delivery in June rose by 25 paise or 0.24% to INR 103.35 per kilogram with a turnover of 182 lots. The metal for July delivery rose by 15 paise or 0.23% to INR 105.20 per kilogram with a turnover of 168 lots.
Globally, aluminum gained 1% to USD 1,864 per tonne at the London Metal Exchange.
Market analysts said that besides covering-up of short positions by speculators, rising spot demand and a firming trend in global markets supported the upside in aluminium futures here.
