Aluminium futures rise on global cues, spot demand

NEW DELHI, Aug 8:  Aluminium prices edged up by 0.64 per cent to Rs 109.30 per kg in futures trade today as participants indulged in enlarging positions, supported by a firming overseas trend.
Further, better demand in the spot markets also influenced metal prices.
At the Multi Commodity Exchange, aluminium for delivery in August up by 70 paise, or 0.64 per cent, to Rs 109.30 per kg in business turnover of 310 lots.
Likewise, the metal for delivery in September traded higher by 65 paise, or 0.59 per cent, to Rs 110.40 per kg in 44 lots.
Marketmen said apart from increased domestic demand, a firming trend in base metals overseas after trade data in China, the biggest user, exceeded estimates,  influenced aluminium prices at futures trade.
In the international market, aluminium gained 0.5 per cent to USD 1,797 per tonne at the London Metal Exchange. (PTI)

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