Aluminium futures marginally up on rise in demand

New Delhi, Oct 27 (PTI) Aluminium prices gained Rs 1.05 to Rs 112 per kg in futures market today due to pick-up in spot demand, supported by a firming global trend.

At the Multi Commodity Exchange, aluminium for delivery in December rose by Rs 1.05, or 0.95 per cent, to Rs 112 per kg, with a business turnover of 18 lots.

Likewise, the metal for delivery in November traded marginally higher by 5 paise, or 0.05 per cent, to Rs 110.70 per kg, with a business volume of 466 lots.

Market analysts said besides pick-up in spot demand, a firming trend in the overseas market mainly helped aluminium prices to trade higher at futures trade.

Meanwhile, aluminium rose by 1.5 per cent to USD 2,248 a tonne on the London Metal Exchange.