| Date: |
10-11-2011 |
| Subject: |
Indian Aluminum up in Futures Trade |
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PTI reported that Indian aluminum prices gained 0.94% to INR 106.90 per kilogram in futures market on the back of pick up in spot demand and a firming trend overseas.
At the Multi Commodity Exchange, November aluminum rose by a rupee or 0.94% to INR 106.90 per kilogram with a business turnover of 993 lots. The December contract rose by a similar margin to INR 107.75 per kilogram with a turnover of 25 lots.
Market analysts said that besides pick up in spot demand, a firming trend in the overseas market mainly helped aluminum prices to trade higher at futures trade.
Meanwhile, aluminum rose by 0.9% to USD 2,158.75 per tonne on the London Metal Exchange.
Source : steelguru.com
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