New Delhi, March 3: Aluminium prices surged by 70 paise to Rs 257.25 per kilogram in the futures market on Monday, driven by fresh positions taken by speculators. The upward trend was largely supported by a positive outlook in the spot market, analysts noted.
On the Multi Commodity Exchange (MCX), aluminium contracts for April delivery climbed by 0.27%, reflecting an increase of 70 paise, and traded in 714 lots.
Market experts indicated that the rise in aluminium prices was primarily due to renewed activity from traders, coupled with strong demand from industries that rely on aluminium as a key raw material. This demand from consuming sectors is expected to further strengthen the prices in the short term.
As aluminium futures maintain an upward momentum, market participants continue to watch developments closely for any further price shifts.
