Aluminium up 0.28% up on firm global trends

Aluminium prices rose marginally by 0.28 per cent in futures trade today in line with a firming trend in the global markets.

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

At the Multi Commodity Exchange, aluminium for delivery in current month rose by 35 paise, or 0.28 per cent, to INR 124.60 per kg in a business turnover of 60 lots.

The September contract rose by a similar margin to trade at INR 124.75 per kg in six lots.

Analysts said the rise in aluminium prices at futures trade was mostly due to a firming trend in global markets on stronger-than-expected US home sales and before a speech by Federal Reserve Chair Janet Yellen and rising demand at spot markets here.

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