Aluminium futures rise on fresh bets

Aluminium prices on Monday increased by 1.49 per cent to Rs 217.30 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the Multi Commodity Exchange, aluminium contracts for December delivery increased by Rs 3.20 or 1.49 per cent to Rs 217.30 per kg in a business turnover of 7,491 lots.

Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.