Indian aluminum futures marginally up on spot demand

Indian aluminum traded higher by 0.70% to INR 115.40 per kilogram in futures trading largely supported by firm spot demand amid short covering by speculators.

At the Multi Commodity Exchange, aluminum for delivery in April gained 80 paise or 0.70% to INR 115.40 per kilogarm with a business turnover of one lot.

The metal for delivery in February also strengthened by 10 paise or 0.09% to INR 113.60 per kilogram with an open interest of two lots.

Market analysts said that apart from firming trend at the London Metal Exchange higher domestic demand also influenced aluminum futures prices.