Aluminium marginally up on higher global trend

Aluminium prices rose by Rs 0.70 to Rs 89.85 per kg in futures trading today, as traders enlarged their positions on the back of a firming global trend.

At the Multi Commodity Exchange, aluminium for delivery in June contract rose Rs 0.70, or 0.79 per cent, to Rs 89.85 per kg, with an open interest of 3,436 lots.

Similarly, the metal for delivery in July month contract gained Rs 0.70, or 0.78 per cent, to Rs 90.95 per kg, with an open interest of 706 lots.

Market analysts said a firming trend at the London Metal Exchange coupled with rising demand from consuming industries in spot markets, pushed up aluminium prices at futures market here.

Meanwhile, aluminium rose 1.5 per cent to $1,970 a metric tonne on the London Metal Exchange.