MCX Aluminium up by 0.4% on global trend

Aluminium futures traded 0.41 per cent higher at INR 99.15 per kg, largely in tandem with a firming trend in base metals at the London Metal Exchange (LME).

Besides, increased demand at domestic spot markets influenced prices.

At Multi Commodity Exchange, aluminium for delivery in current month rose 40 paise, or 0.41 per cent, to INR 99.15 per kg in a business turnover of 145 lots.

Metal for delivery in April month contracts was trading higher by 40 paise, or 0.40 per cent at INR 100.80 per kg in 7 lots.

Analysts attributed the rise in aluminium prices at futures trade to a firming trend at the LME after the Easter holiday as US home sales climbed, boosting demand prospects, and a weaker dollar made commodities cheaper in other currencies.

Globally, aluminium gained 1.9 per cent to $1,504 per tonne.

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