Uptick in demand buoys aluminium futures 21/06/2017

Uptick in demand buoys aluminium futures
21/06/2017

Aluminium futures were trading higher during morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the industrial metal amid surge in physical demand for aluminium at the domestic spot market.Further, an increase in physical demand for aluminium at the domestic spot market was led by building up of fresh bets by traders in the spot markets, supported aluminium prices at futures trade.At the MCX, aluminium futures for June 2017 contract is trading at Rs 121.65 per kg, up by 0.16 per cent, after opening at Rs 121.65, against a previous close of Rs 121.45. It touched the intra-day high of Rs 121.70 (at 10:38 hours).

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