Aluminium gains by 2% on global cues

Aluminium prices gained 1.97% to Rs 98.30 per kg in futures trade as speculators enlarged positions amid positive cues from global markets.

Besides, increased demand at domestic spot markets influenced prices.

At the Multi Commodity Exchange, aluminium for delivery in November rose by Rs 1.90, or 1.97%, to Rs 98.30 per kg in a business turnover of 353 lots.

Also, the metal for delivery in December traded higher by Rs 1.80, or 1.84%, to Rs 99.60 per kg in 125 lots.

Market analysts said the rise in aluminium prices at futures trade was due to a firming trend in copper and other base metals at the London Metal Exchange amid rising demand at spot markets here.

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