Aluminium up by 0.3% as spot demand hardens

Aluminium prices edged up by 0.28% to INR 107.25 per kg in futures trade today as participants enlarged positions amid a firming trend overseas. Besides, strong demand in spot markets influenced metal prices.

At Multi Commodity Exchange, aluminium for delivery in the current month inched up 30 paise, or 0.28%, to INR 107.25 per kg in a business turnover of 212 lots.

Metal for delivery in October contracts also rose by a similar margin to trade at INR 108 per kg in 20 lots.

Traders said that apart from increased domestic demand, a firming global trend despite concern over an economic slowdown in China, the world's largest consumer, helped aluminium futures trade higher.

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