Aluminium gains 0.14% on spot demand, global cues

Aluminum prices inched up by 0.14 percent to Rs 144.10 per kg in futures trading today as speculators built up fresh positions following improved demand at the spot markets amid firm global cues.

At the Multi Commodity Exchange, aluminum for delivery in September was trading higher by 20 paise, or 0.14 percent, to Rs 144.10 per kg in a business turnover of 3 lots.

Similarly, the metal for delivery in August edged up by 10 paise or 0.07 percent to Rs 143.20 per kg in 305 lots.

Analysts said fresh positions created by participants after an uptick in demand from industries in the physical market and a firm trend overseas influenced aluminum prices in futures trade.

Meanwhile, at Shanghai futures Exchange aluminum was the biggest gainer, rising 1.5 percent to 14,635 yuan a tonne, after a similar jump in London yesterday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)