Aluminium futures rise on fresh bets

Aluminium prices on Thursday climbed 1.23 per cent to Rs 198.05 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the Multi Commodity Exchange, aluminium contracts for December delivery increased Rs 2.40 or 1.23 per cent to Rs 198.05 per kg in a business turnover of 4,279 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.