NEW DELHI, Aug 9: Aluminium prices strengthened by 0.28 per cent to Rs 145 per kg in futures trade today as speculators raised their bets, taking positive cues from Asian markets.
Besides, surging demand from consuming industries at domestic spot market, too, supported the upmove in zinc prices.
At the Multi Commodity Exchange, aluminium for delivery in August edged up by 40 paise, or 0.28 per cent to Rs 145 per kg in business turnover of 141 lots.
On similar lines, the metal for delivery in September traded higher by 25 paise, or 0.17 per cent to Rs 145.80 per kg in 2 lots.
Analysts said sentiments boosted after Shanghai aluminium rose 2.8 per cent to a near two-month high today, tracking a jump in London in the previous session, as a strike affecting Alcoa’s alumina refineries in Australia and warnings of shutdowns by Rusal supported prices.
Meanwhile, the most-traded October aluminium contract on the Shanghai Futures Exchange was up 2.7 per cent at 14,875 yuan (USD 2,179.68) a tonne, having earlier touched 14,885 yuan a tonne, its highest since June 13.
Also aluminium for delivery in three-month rose 1.9 per cent to USD 2,146 a tonne, its highest since June 29, extending a 3.3 per cent jump in the previous session on the London Metal Exchange. (PTI)
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