Uptick in demand buoys aluminium futures 30/05/2017

Uptick in demand buoys aluminium futures
30/05/2017

Aluminium futures were trading higher during morning trade in the domestic market on Tuesday as investors and speculators build up fresh bets in the industrial metal amid surge in physical demand for aluminium at the domestic spot market.
Further, a fall in physical demand for aluminium at the domestic spot market was led by widening of positions by traders in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for May 2017 contract is trading at Rs 126.20 per kg, up by 0.20 per cent, after opening at Rs 126.10, against a previous close of Rs 125.95. It touched the intra-day high of Rs 126.20 (at 10:41 hours).

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