Aluminium up 0.4% on firming overseas trend

Aluminium prices today rose by 0.38% to INR 104.85 per kg in futures trade as speculators enlarged positions amid a firming trend overseas.

Besides, increased demand at domestic spot markets also influenced prices.

At the Multi Commodity Exchange, aluminium for delivery in May rose by 40 paise, or 0.38%, to INR 104.85 per kg in business turnover of 390 lots.

The metal for delivery in June rose by a similar margin to INR 106.40 per kg in 15 lots.

Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in the entire base metals pack at the London Metal Exchange and rising demand at spot markets here.   

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