Aluminium futures moved higher on Wednesday as traders built fresh positions amid a positive trend in the spot market and steady demand from consuming industries.
On the Multi Commodity Exchange (MCX), the August delivery contract gained Rs 1.05, or 0.3%, to Rs 345.85 per kg, with a business turnover of 315 lots.
Market analysts attributed the rise in aluminium prices to fresh buying by participants, supported by firm demand from end-user industries and improving sentiment in the physical market.