Aluminium up 0.54% on spot demand, global cues

Aluminium prices were higher by 0.54 per cent to Rs 166.35 per kg in futures trade Thursday as speculators created fresh positions amid improved demand in the spot market and positive global cues.

At the Multi Commodity Exchange, aluminium for delivery in October inched up by 90 paise, or 0.54 per cent to Rs 166.35 per kg in a business turnover of 550 lots.
Analysts said fresh positions built up by participants after uptick in demand from consuming industries in the physical market and a firm trend in metal overseas markets mainly influenced aluminium prices at futures trade.