Aluminium futures gain nearly 1% on strong demand

NEW DELHI: Aluminium prices gained 0.85 per cent to Rs 189.80 per kg in the futures trade on Thursday as speculators built up fresh positions amid a positive trend in the spot market.

On the Multi Commodity Exchange, aluminium contracts for the April delivery rose Rs 1.60, or 0.85 per cent, to Rs 189.80 per kg in a business turnover of 2,242 lots.

Analysts said creation of fresh positions by traders on demand from consumer industries supported aluminium prices in the futures market.