Aluminium Gains Sparked by Market Bets
Aluminium prices witnessed a modest uptick on Tuesday, climbing 40 paise to settle at ₹244.20 per kilogram in futures trade, buoyed by renewed buying interest from speculators and a supportive trend in the spot market.
On the Multi Commodity Exchange (MCX), the July delivery contract saw a gain of 0.16%, with a total of 1,777 lots traded. Market analysts attribute the rise to fresh positions initiated by traders, driven by steady demand from downstream consuming industries, particularly in sectors like construction, automotive, and packaging.
The positive momentum in the spot market further fueled confidence among investors, hinting at a healthy short-term outlook for the metal. With global cues remaining mixed and domestic industrial demand holding firm, aluminium futures are expected to remain supported in the coming sessions, unless weighed down by external macroeconomic pressures or changes in global inventory data.