Indian aluminium up 0.1pct on global cues as spot demand

BS reporetd that Indian aluminium prices edged up by 0.18% to INR 109.80 per kilogram in futures trade as participants enlarged their positions, supported by a firming overseas trend.

Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in April inched up by 20 paise or 0.18% to INR 109.80 per kilogram in business turnover of 110 lots. Likewise, the metal for delivery in May traded higher marginally by 15 paise or 0.14% to INR 111.15 per kilogram in 3 lots.

Marketmen said that apart from increased domestic demand, a firming global trend on concern that global supply will be limited on longer delays to take delivery from warehouse and production cuts, helped aluminium futures to trade higher.

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