Aluminium strengthens on industrial demand, global cues

Aluminium prices edged higher by INR 2 per kg at the local non-ferrous metals market today on increased industrial demand amid a firming global trend.

Traders said buying activity in aluminium picked up after it surged to 18-month highs in global markets, amidst falling stockpiles on the London Metal Exchange and in Shanghai.

Meanwhile, Aluminum for delivery in three months reached USD 2,113 per metric tonne on the London Metal Exchange.

In the national capital, Aluminium ingots, sheet cutting, wire scrap and utensils scrap strengthened by Rs 2 each at INR 166, Rs 167, INR 169 and INR 166 per kg respectively.

Following are today's aluminium rates (in Rs per kg):

Aluminium ingots 166, Aluminium sheet cutting 167, Aluminium wire scrap 169 and Aluminium utensils scrap 166.

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