Aluminium futures gain on upsurge in demand

Aluminium futures were trading higher during the late morning trade in the domestic market on Thursday as participants widened their positions on uptick in physical demand for aluminium in the domestic spot market.

Further, an increase in demand for aluminium at the domestic spot market was attributed to building up of fresh bets by participants in the spot markets, supported aluminium prices at futures trade. At the MCX, aluminium futures for September 2016 contract is trading at Rs 105.70 per kg, up by 0.38 per cent, after opening at Rs 105.45, against a previous close of Rs 105.30. It touched the intra-day high of Rs 105.80.

 

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