Aluminium Hit Fresh Peak of ₹294.4/kg in Futures Trade

Aluminium prices jumped 3% to hit a new lifetime high of ₹294.90 per kg in the futures trade on Friday as speculators built up fresh positions amid a positive trend in the spot market.

On the Multi Commodity Exchange (MCX), the December contract of aluminium increased by ₹8.8, or 3.07% to hit a record of ₹294.90 per kg.

The January contract also appreciated by ₹9.05, or 3.14%, to scale a fresh peak of ₹297.20 per kg.

Analysts said fresh buying by participants, driven by strong demand in the physical market and positive cues from overseas markets, mainly led to the sharp rise in aluminium prices.

They added that firm global trends, supported by concerns over supply constraints and improved demand outlook from key consuming sectors, further boosted market sentiment.