Uptick in physical demand buoys aluminium futures 15/05/2017

Uptick in physical demand buoys aluminium futures
15/05/2017

Aluminium futures were trading higher during morning trade in the domestic market on Monday as investors and speculators started building up fresh bets in the industrial metal amid surge in physical demand for aluminium at the domestic spot market.
Further, a rise 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 121.35 per kg, up by 0.12 per cent, after opening at Rs 121.25, against a previous close of Rs 121.20. It touched the intra-day high of Rs 121.45 (at 10:50 hours).

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