Aluminium futures keep head above water

Aluminium futures keep head above water

02/02/2017 11:02

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

Further, a rise in physical demand for aluminium at the domestic spot market was led by widening of positions by traders in the spot markets, supported aluminium prices at futures trade.

At the MCX, aluminium futures for February 2017 contract is trading at Rs 122.70 per kg, up by 0.41 per cent, after opening at Rs 122.40, against a previous close of Rs 122.20. It touched the intra-day high of Rs 122.75 (at 11:03 hours).

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