Aluminium futures up 0.44% on pick-up in demand, global cues

Aluminium futures edged higher by 0.44 per cent to Rs 113.25 per kg today as speculators enlarged positions amid pick-up in demand at spot markets.

Besides, a firming trend in base metals at the London Metal Exchange (LME) supported the upside.

At the Multi Commodity Exchange, aluminium for delivery in current month rose 50 paise, or 0.44 per cent, to Rs 113.25 per kg, with a business turnover of 172 lots.

The metal for delivery in May also rose by 45 paise, or 0.40 per cent, to Rs 113.70 per kg in 12 lots.

Marketmen said apart from a firming trend in base metals pack at the LME, rising demand at spot markets influenced aluminium prices at futures trade here.