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Informist, Monday, Mar. 16, 2026

 

By Ashutosh Pati 

 

MUMBAI – Futures contracts of all base metals fell on the Multi Commodity Exchange of India and the London Metal Exchange Monday, with aluminium in the red as traders took profits after the recent surge in prices. Prices of copper fell on weakening Chinese demand and rising inventories across exchanges, according to analysts.

 

"The combination of the escalating Middle East (West Asia) conflict and high energy costs continues to dampen the demand outlook for industrial metals, as investors pivot toward safe-haven assets," SMC Global Securities said in a report.
 

The fall in ALUMINIUM prices was limited as Aluminium Bahrain, one of the world's largest aluminium smelters, initiated a phased shutdown of production due to continued supply disruptions stemming from the closure of the Strait of Hormuz. "The company said it shut three production lines, equivalent to around 19% of its 1.6 million tonne per year capacity, to conserve raw material inventories and stabilise operations," analysts at ING Economics said in a report. 

 

West Asia accounts for nearly 9% of global aluminium production. Closure of the Strait of Hormuz, a critical route for West Asian producers to transport the metal and raw materials, has forced major producers to cut output. "The shutdown reinforces our view that aluminium remains structurally tight, with limited buffers to absorb supply shocks," the analysts said. At 0746 IST, the three-month contract of aluminium on the LME was up 1.1% at $3,477.5 per tonne.

 

Data released early Monday showed China's value-added industrial production rose 6.3% on year in the first two months of 2026. Industrial output in February rose 0.83% from January. China's retail sales of consumer goods rose 2.8% on year in Jan-Feb. "...China's activity data confirmed our view that economic momentum remains uneven at the start of the year, with weak consumption offset by resilient industrial production," analysts at ANZ Research said in a report.

 

At 1550 IST, on the MCX, the March futures contract of:

--Aluminium was at INR 342.05 a kg, down 1.2%
--COPPER was at INR 1,172.50 a kg, down 1.3%
–-LEAD was at INR 186.00 a kg, down 1.4%
–-ZINC was at INR 322.05 a kg, down 0.7%

--NICKEL was at INR 1,562.00 a kg, down 0.8%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 340.00-INR 346.00

--Copper contract seen at INR 1,160.00-INR 1,188.00
--Lead contract seen at INR 184.00-INR 188.00

--Zinc contract seen at INR 320.00-INR 325.00

--Nickel contract seen at INR 1,560.00-INR 1,620.00

 

End

 

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

 

Edited by Rajeev Pai

 

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