NEW DELHI, May 28: Aluminium prices today rose by 0.18 per cent to Rs 111 per kg in futures trade as speculators covered their short positions amid a firming trend overseas after stock position fell to a 6-year low.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in June rose 20 paise, or 0.18 per cent, to Rs 111 per kg in a business turnover of six lots.
The metal for delivery in May rose 10 paise, or 0.09 per cent, to Rs 109.15 per kg in 67 lots.
Meanwhile, aluminium for delivery in three months was up 0.5 per cent at USD 1,747 per tonne at the London Metal Exchange (LME).
Market analysts said the rise in aluminium prices in futures trade was mostly attributed to a firming trend in metal at LME after inventories fell to a 6-year low and rising demand at spot markets besides covering of short positions by speculators. (PTI)
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