Spot demand, global cues lift aluminium futures by 0.59%

Aluminium prices edged up 0.59 per cent to INR 101.90 per kg in futures trade today as participants enlarged positions, supported by strong demand in the spot markets amidst a positive trend in the base metals pack at the London Metal Exchange (LME).

Aluminium for delivery in current month edged higher by 60 paise, or 0.59 per cent, to INR 101.90 per kg in a business turnover of 629 lots in futures trade at Multi Commodity Exchange.

Likewise, the metal for delivery in April traded higher 45 paise, or 0.45 per cent, to INR 103.45 per kg in 64 lots.

Marketmen said apart from increased domestic demand, a firming trend at the LME as the recovery in China's property market accelerated, triggering optimism of demand recovery in the world's biggest commodities consumer, helped aluminium futures trade higher.

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