Base Metal Updates – Aluminum Surges On Strong Demand .
Aluminum futures were trading higher in the domestic market on Thursday as participants enlarged their positions, supported by a strong spot demand in the physical market.
Market analysts said strength in the base metals pack at the LME, spurred by an improving trade outlook in China and monetary stimulus by the ECB and increased domestic demand from consuming industries at the spot markets, helped aluminum futures to trade higher.
At the MCX, Aluminum futures for June 2016 contract is trading at Rs 106.60 per kg, up by 0.47 per cent, after opening at Rs 106.75, against a previous close of Rs 106.10. It touched the intra-day high of Rs 107.95 .
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