Aluminium Closes With Modest Gains

Base metals were greeted with positive news from US, where labor department showed a decline in jobless claims. All the major asset classes registered gains with Base metals amplifying the most.

Aluminium also closed on a soothing note though the gains were modest. Domestic futures benchmark Aluminium contract settled at Rs 95 per kg as against Rs 94.6 per kg on Wednesday.

China produced 12,985,000 tonnes of primary Aluminium in 2009, up 1.0 percent from the previous year, according to the National Bureau of Statistics. Output of alumina rose by 4.4 percent over the same period to reach 23,826,200 tonnes. Daily average primary aluminium output rose to 64,000 tonnes in December from a revised 63,600 tonnes in November, provisional figures from the International Aluminium Institute showed.

Source : Capital Market
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