Uptick In Physical Demand Buoys Aluminium Futures

Aluminium futures were trading higher during morning trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal amid surge in physical demand for aluminium at the domestic spot market.

Further, an increase in physical demand for aluminium at the domestic spot market was led by building up of fresh bets by traders in the spot markets, supported aluminium prices at futures trade.

At the MCX, aluminium futures for June 2017 contract is trading at Rs 120.85 per kg, up by 0.50 per cent, after opening at Rs 120.75, against a previous close of Rs 120.25. It touched the intra-day high of Rs 120.90.

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Suhani Verma

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