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Informist, Monday, Mar. 9, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of aluminium on the Multi Commodity Exchange of India rose to a record high Monday due to concerns about disruptions to supply from West Asia. However, copper futures were trading in the red as rising energy prices could slow global economic growth and hurt demand for base metals, according to analysts.

 

Aluminium prices rose to a record high of INR 350.90 per kg on the domestic bourse earlier in the day. The closure of the Strait of Hormuz, a critical route for West Asian producers to transport metal and raw materials, has led to major producers cutting output. The war in West Asia entered its tenth day Monday. Aluminium Bahrain, one of the world's largest aluminium producers, has declared force majeure on supply contracts, citing the closure of the Strait.

 

West Asia accounts for nearly 9% 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. "(Aluminium) Prices are expected to remain higher due to intense geopolitical tensions in the Middle East (West Asia) and critical supply chain disruptions," ICICI Direct said in a report.

 

COPPER prices edged lower Monday. "As the Iran-US war entered its second week, global oil costs rose, lifting the dollar on expectations of a hawkish response from the Federal Reserve and a rush to safety. Rising energy costs may lead to a decrease in manufacturing, lowering base metal demand," Motilal Oswal Financial Services said in a report.

 

At 1428 IST, on the MCX, the March futures contract of:

--ALUMINIUM was at INR 343.05 a kg, up 0.9%
--Copper was at INR 1,185.1 a kg, down 1.0%
–-LEAD was at INR 188.75 a kg, down 0.2%
–-ZINC was at INR 325.35 a kg, up 0.5%

--NICKEL was at INR 1,576.00 a kg, down 1.5%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 340.00-INR 345.00

--Copper contract seen at INR 1,170.00-INR 1,200.00
--Lead contract seen at INR 187.00-INR 190.00

--Zinc contract seen at INR 322.00-INR 328.00

--Nickel contract seen at INR 1,560.00-INR 1,610.00

End

 

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

 

Edited by Tanima Banerjee

 

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