Aluminium futures firm up as spot demand hardens

Aluminium prices edged up by 0.68 per cent to INR 104.40 per kg in futures trade yesterday, May 11, as participants enlarged positions amid a firming trend overseas.

Moreover, strong demand in spot markets influenced metal prices.

At the Multi Commodity Exchange, aluminium for delivery in the current month inched up 0.68 per cent, to INR 104.40 per kg, in a business turnover of 787 lots.

Metal for delivery in June also rose by 70 paise, or 0.67 per cent, to trade at INR 105.30 per kg in four lots.

Traders said that apart from increased domestic demand, a firming global trend as data showing firming inflation eased demand concerns in China, the world's biggest user, helped aluminium futures trade higher.

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