Aluminium futures were trading higher during morning trade in the domestic market on Wednesday as participants indulged in building up fresh bets in the industrial metal amid uptick in physical demand for aluminium at the domestic spot market.

                   Further, rise in physical demand for aluminium at the domestic spot market was led by widening of bets by traders in the spot market, supported aluminium prices at futures trade. 

At the MCX, aluminium futures for December 2016 contract is trading at Rs 118.60 per kg, up by 0.25 per cent, after opening at Rs 118.30, against a previous close of Rs 118.30. It touched the intra-day high of Rs 118.60.

                        Trading Ideas

• Aluminium trading range for the day is 116.8-119.2.

• Aluminium gained amid short covering in market after prices remained under pressure as lower imports by Chinese firms weighed.

• China's commerce ministry expects non-financial outbound direct investment will be 1.12 trillion yuan ($161.19 billion) in 2016.

• The premiums that Japanese buyers pay for aluminium are projected to stay between $80 and $140 a tonne next year