Aluminium rises marginally in futures trade

NEW DELHI: Aluminium prices rose by 0.24 per cent to Rs 103.35 per kg in the futures market today in line with a firming trend in base metals at the London Metal Exchange and a pick-up in demand at the spot markets.

At the Multi Commodity Exchange, aluminium for delivery in June rose by 25 paise, or 0.24 per cent, to Rs 103.35 per kg, with a turnover of 182 lots.

The metal for July delivery rose by 15 paise, or 0.23 per cent, to Rs 105.20 per kg, with a turnover of 168 lots.

Globally, aluminum gained 1 per cent to USD 1,864 per tonne at the London Metal Exchange ( LME).

Market analysts said besides covering-up of short positions by speculators, rising spot demand and a firming trend in global markets, supported the upside in aluminium futures here.