Aluminium Futures Rise: Fresh Bets Fuel Price Hike
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Aluminium futures climb on fresh bets. January delivery up Rs 1.30 to Rs 316.05/kg. Demand from industries supports price increase.
New Delhi, Jan 21 (PTI) Aluminium prices on Wednesday rose Rs 1.30 to Rs 316.05 per kilogram in the futures trade as speculators built up fresh positions amid a positive trend in the spot market.
On the Multi Commodity Exchange, aluminium for delivery in January increased by Rs 1.30, or 0.41 per cent, to Rs 316.05 per kg in a business turnover of 1,993 lots.
The February contract also went up by Rs 1.75, or 0.55 per cent, to Rs 319.15 per kg in 3,563 lots on the commodities bourse.
Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
On the Multi Commodity Exchange, aluminium for delivery in January increased by Rs 1.30, or 0.41 per cent, to Rs 316.05 per kg in a business turnover of 1,993 lots.
The February contract also went up by Rs 1.75, or 0.55 per cent, to Rs 319.15 per kg in 3,563 lots on the commodities bourse.
Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
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