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Informist, Wednesday, Apr. 1, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of aluminium rose on the Multi Commodity Exchange of India and the London Metal Exchange Wednesday due to improved risk sentiment after US President Donald Trump signalled a potential resolution to the military conflict in West Asia. Copper futures on MCX were steady after trading in the green for most of the day. Market participants are now waiting for Trump's address, scheduled for early Thursday, to deliver an "important update" on the war in Iran, according to the White House.

 

ALUMINIUM prices have surged this week amid supply concerns following Iranian strikes on two major producers in West Asia. Aluminium Bahrain, or Alba, one of the world's largest smelters, said its facility was subject to an Iranian attack Saturday and the company is currently assessing the extent of damage to its facilities. Emirates Global Aluminium, another major producer in the region, also sustained significant damage to its facilities from Iranian attacks.

 

"This follows a weak March, during which the (metals) complex faced sustained pressure amid geopolitical tensions and elevated energy prices," Kotak Securities said in a report. Encouragingly, demand indicators from China are improving, with higher import premiums and declining inventories pointing to stronger physical consumption, it said.

 

"On the supply side, constraints remain visible, with lower output from Chile and reduced guidance from key mining operations. However, elevated exchange inventories and persistent geopolitical risks are likely to limit further upside, keeping the near-term outlook cautiously constructive," the brokerage said.

 

Meanwhile, on Wednesday, Trump said Iran's president asked the US for a ceasefire, which will be considered when the Strait of Hormuz is "open, free, and clear". Until then, the US will keep attacking Iran, Trump said.

 

At 1842 IST, on the MCX, the April futures contract of:

--Aluminium was at INR 354.00 a kg, up 1.0%
--COPPER was steady at INR 1,163.90 a kg
–-LEAD was steady at INR 195.20 a kg
–-ZINC was at INR 321.20 a kg, up 0.6%

--NICKEL was steady at INR 1,654.10 a kg

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 350.00-INR 358.00

--Copper contract seen at INR 1,150.00-INR 1,180.00
--Lead contract seen at INR 193.00-INR 197.00

--Zinc contract seen at INR 318.00-INR 325.00

--Nickel contract seen at INR 1,620.00-INR 1,680.00

End

 

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

 

Edited by Saji George Titus

 

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