Aluminium prices up by 0.5% on global cues

Aluminium prices inched up by 0.54% to Rs 103.10 per kg in the futures trade today as participants built up fresh positions, tracking a firm trend overseas.

Furthermore, strong demand in the spot markets supported the upside.

At the Multi Commodity Exchange, aluminium for delivery in February month traded higher by 55 paise, or 0.54% to Rs 103.10 per kg in business turnover of 475 lots.

Similarly, the metal for delivery in far-month March contracts edged up by 50 paise, or 0.48% to Rs 104 per kg in 13 lots.

Marketmen said apart from a firm trend in base metals pack at the London Metal Exchange, increased demand from consuming industries at domestic spot market kept zinc prices higher at futures trade.

Meanwhile, aluminum rising 0.5% at the London Metal Exchange.

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