Uptick In Physical Demand Buoys Aluminium Futures

Aluminium futures rose nearly 0.33 per cent during morning trade in the domestic market on Thursday as investors and speculators build up fresh bets in the industrial metal amid an increase in physical demand for aluminium at the domestic spot market.

Further, a surge in physical demand for aluminium at the domestic spot market was led by extending of positions 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 122.25 per kg, up by 0.33 per cent, after opening at Rs 122.15, against a previous close of Rs 121.85. It touched the intra-day high of Rs 122.40.

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Suhani Verma

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