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Indian aluminum futures edge up on global cues

PTI reported that Indian aluminum prices rose by 0.66% to INR 115.25 per kilogram in the futures trading tracking firming trend overseas amid pick up in spot demand.

At the Multi Commodity Exchange, aluminum for delivery in February rose up by 75 paise or 0.66% to INR 115.25 per kilogram with a business turnover of two lots. Similarly, the metal for delivery in March traded higher by 75 paise or 0.66% to INR 116 per kilogram with an open interest of two lots.

Analysts said that apart from firming trend at the London Metal Exchange increase in domestic demand also influenced the aluminum futures prices here. Meanwhile, aluminum in London Metal Exchange rose 0.3% to USD 2,577 per tonne the highest level since September 2008.

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