Aluminium futures up on Asian cues

Fri, Nov 6 01:59 PM

Aluminium futures prices on Friday recovered by 0.45 per cent on speculative activity, sparked by firming trend in Asian trading after the positive US data.

Firming trend in the spot markets following good demand from consuming industries also influenced aluminium prices at futures market here.

At the MCX counters, aluminium for delivery in November contract traded 0.45 per cent higher at Rs 89.70 per kg in turnover in 32 lots.

The metal for delivery in December contract also gained 0.39 per cent at Rs 90.75 per kg, clocking turnover in 32 lots.

Shanghai aluminium also traded 0.07 per cent higher at 15,200.00 yuan per tonne in today's morning trade.

Market analysts said gains in Shanghai aluminium after positive US data job data mainly supported the upside in the metal prices in futures trade.

They said hopes of pick up in demand for metals after positive manufacturing data from the US and China also influenced the metal prices.

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