Aluminium futures gain 0.50 per cent on positive spot cues

Aluminium prices edged up by 0.50 per cent to Rs 149.35 per kg in futures market on Tuesday as speculators built up fresh positions, taking positive cues from spot market on improved demand.

At the Multi Commodity Exchange, aluminium for delivery in September edged higher by 75 paise, or 0.50 per cent, to Rs 149.35 per kg in a business turnover of 426 lots.

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On similar lines, the metal for delivery in October contracts edged higher by 50 paise, or 0.33 per cent, to Rs 150.50 per kg in nine lots.

Analysts said fresh positions created by participants following uptick in demand from consuming industries in the physical market influenced aluminium prices in futures trade.