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Informist, Friday, Mar. 6, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of aluminium extended the recent rally on the Multi Commodity Exchange of India and the London Metal Exchange Friday amid continued disruption of supply in West Asia. Copper prices, however, fell on the firm dollar and growing concern about demand.

 

ALUMINIUM prices are heading for their largest weekly rise since 2024, with prices on the LME up over 5% this week. On the MCX, aluminium prices have risen for eight successive sessions. "The rally has been driven by escalating geopolitical tensions in the Middle East (West Asia) as the ongoing US-Israeli conflict with Iran disrupted shipments through the Strait of Hormuz, a key artery for global aluminium trade," Kotak Securities said in a report.

 

Several regional producers, including major smelters in Bahrain and Qatar, have reported delivery and production disruptions, amplifying concerns over supply from a region responsible for a significant share of global output, the brokerage added.

 

Aluminium Bahrain, one of the world's largest aluminium producers, has declared force majeure on supply contracts, citing the closure of the Strait of Hormuz, a critical route for regional producers to transport metal and raw materials. West Asia accounts for nearly 8% of global aluminium production. This follows the controlled shutdown of output at Qatalum, an aluminium smelter plant jointly owned by Qatar's state-owned aluminium producer and Norsk Hydro.

 

Meanwhile, COPPER prices face headwinds from a stronger US dollar and rising inventories, with stockpiles on the Shanghai Futures Exchange climbing to a record 425,145 tonnes, highlighting soft demand conditions in China despite broader market volatility, Kotak Securities said.

 

At 1902 IST, on the MCX, the March futures contract of:

--Aluminium was at INR 334.60 a kg, up 1.2%
--Copper was at INR 1,191.65 a kg, down 0.3%
–-LEAD was at INR 188.80 a kg, up 0.2%
–-ZINC was at INR 321.85 a kg, up 0.2%

--NICKEL was at INR 1,597.00 a kg, down 0.3%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 330.00-INR 336.00

--Copper contract seen at INR 1,180.00-INR 1,205.00
--Lead contract seen at INR 187.00-INR 190.00

--Zinc contract seen at INR 330.00-INR 336.00

--Nickel contract seen at INR 1,570.00-INR 1,625.00

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Rajeev Pai

 

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