Aluminium up by 0.6% on firming overseas trend

Aluminium prices edged higher by 0.58% to INR 122.35 per kg in futures trade today as speculators enlarged positions amid a firming trend overseas.

Further, increased demand at domestic spot markets also influenced the prices.

At the Multi Commodity Exchange, aluminium for delivery in December month contracts rose 70 paise, or 0.58%, to INR 122.35 per kg in a business turnover of 450 lots.

Similarly, the metal for delivery in January traded higher by 65 paise, or 0.53%, to INR122.75 per kg in 50 lots.

Market analysts said the rise in aluminium prices at futures trade was mostly in tandem with a firming trend in copper and other base metals at the London Metal Exchange and rising demand at spot markets here.

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