Aluminium futures prices edged higher by Rs 0.45 or 0.48 per cent at Rs 93.30 per kg today as speculators indulged in building up fresh positions, driven by gains in base metals at the London Metal Exchange amid good spot demand in the physical markets.
Aluminium for delivery in July contract also edged higher by Rs 0.45 or 0.48 per cent to Rs 93.30 per kg, with a turnover of 2 lots.
Likewise, the delivery in August contract also moved up by a similar margin to trade at Rs 94.35 per kg in a turnover of 1 lot.
Analysts said firming trend in copper and base metals at the London Metal Exchange as metals are trading at a discount to Chinese contracts and pick up in domestic demand at the physical markets influenced aluminium futures prices here.
Meanwhile, Aluminium gained 0.6 per cent to $1,990 a tonne at the London Metal Exchange.