Aluminium futures gained momentum on Wednesday, rising by Rs 3.75 to Rs 234.60 per kilogram, as traders initiated fresh positions backed by firm demand in the spot market.

At the Multi Commodity Exchange (MCX), the June delivery contract for aluminium advanced 1.56%, or Rs 3.75, to trade at Rs 234.60 per kg, with a turnover of 987 lots.

According to market analysts, the uptick in prices was driven by renewed buying from speculators, encouraged by improving demand from end-use industries.