New Delhi

Aluminium futures rose by Rs 1.95 to Rs 339.40 per kilogram on Thursday, tracking gains in overseas markets amid sustained buying by traders and optimism over demand for the industrial metal.

On the Multi Commodity Exchange (MCX), aluminium contracts for July delivery climbed Rs 1.95, or 0.58 per cent, to Rs 339.40 per kg in a business turnover of 3,939 lots.

Similarly, the August contract also advanced Rs 2.50, or nearly 1 per cent, to Rs 340.65 per kg, with a turnover of 1,588 lots.

Traders said firm global trends and fresh buying at prevailing levels supported aluminium prices in the domestic futures market.

In the overseas markets, aluminium futures on the London Metal Exchange (LME) gained USD 31.90, or 1.03 per cent, to USD 3,172.90 per tonne.

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Analysts said optimism over industrial demand and strength across the base metals complex continued to underpin aluminium prices, though investors remain watchful of developments in major consuming economies for further cues.