Aluminium gains by 0.1% on spot demand

Aluminium prices were up by 0.15% to INR 101.60 per kg in futures trade on October 15 as speculators enlarged positions even as metal weakened overseas.

At the Multi Commodity Exchange, aluminium for delivery in October rose 15 paise, or 0.15%, to INR 101.60 per kg, in a business turnover of 406 lots. The metal for delivery in November traded higher by 10 paise, or 0.10%, to INR 103.15 per kg in eight lots.

Analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend at the spot markets on the back of rising industrial demand but metals weakness overseas, limited the gains.

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