Aluminium futures traded higher by Rs 0.50 or 0.53 per cent to Rs 103.35 per kg in futures trade today, as traders created fresh positions, triggered by firming trend at the London Metal Exchange (LME).
Firm trend at the spot market on the back of pick up in industrial demand also supported the upside in aluminium prices at futures market.
At the Multi Commodity Exchange (MCX), aluminium for delivery in April contract gained 0.50, or 0.53 per cent to Rs 103.35 per kg, with a business volume of 268 lots.
The metal for delivery in May contract edged higher by 0.40, or 0.38 per cent to Rs 104.35 per kg in 63 lots.
Analysts said, firming trend at the spot market and rise in copper and other base metals at the London Metal Exchange on the back of strong US housing data, mainly led to a rise in the metal prices at futures market here.
Meanwhile, aluminium rose USD 18.75, or 0.80 per cent to USD 2,350.75 per tonne, while at Shanghai, the metal up by 115 yuan, or 0.69 per cent to 16,665 yuan per tonne.
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