Indian aluminum futures up on fresh buying

PTI reported that Indian aluminum future prices traded higher by INR 0.85, or 0.79% to INR 108.45 per kilogram on fresh buying by traders after tracking gains in other base metals overseas.

At the Multi Commodity Exchange platform, aluminium for delivery in November gained INR 0.85 or 0.79% to INR 108.45 per kilogram with a business turnover of two lots. Similarly, the metal for delivery in October edged up by INR 0.80 or 0.75% to INR 107.40 per kilogram with a business volume of 13 lots.

Marketmen said that apart from better trend at physical markets on the back of pickup in demand, firmness in base metals at the London Metal Exchange mainly led to a rise in aluminium futures prices. Meanwhile, aluminium climbed 1% to USD 2,441 per tonne on the LME.