Aluminium prices surge 0.45% in futures trade aided by strong spot demand

Aluminium prices edged up by 0.45 per cent to INR 111.50 per kg in futures trade today as participants enlarged positions amid a firming trend at spot markets on strong demand.

At the Multi Commodity Exchange, aluminium for delivery in May inched up by 50 paise, or 0.45 per cent, to INR 111.50 per kg in a business turnover of 291 lots.

Likewise, the metal for delivery in June was trading higher by 40 paise, or 0.35 per cent, to INR 113.30 per kg in 37 lots.

Marketmen said increased domestic demand from consuming industries at domestic spot market helped aluminium futures to trade higher.

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