MCX Aluminium futures inch up on overseas cues

Aluminium prices edged up 20 paise to INR 108.55 per kg in futures trade today as participants enlarged positions amid a firming trend overseas.

Strong demand in the spot market also influenced metal prices.

Aluminium for delivery in June inched up 20 paise, or 0.18 per cent, to INR 108.55 per kg in a business turnover of 143 lots in futures trade at Multi Commodity Exchange.

Likewise, the metal for delivery in July traded higher 10 paise, or 0.09 per cent, to INR 110.30 per kg in 12 lots.

Marketmen said apart from increased domestic demand, a firming trend in global markets, helped aluminium futures trade higher.

At the London Metal Exchange, aluminium for delivery in three months gained 0.3 per cent to USD 1,721.50 per tonne.

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