More Stories

Informist, Thursday, Apr. 16, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of aluminium on the Multi Commodity Exchange of India rose to a record high Thursday, tracking a rise in contracts on the London Metal Exchange due to supply concerns amid disruptions in West Asia and declining LME inventories, analysts said.  

 

The April contract of ALUMINIUM on MCX rose to a record high of INR 377.15 per kilogram. "Aluminium's rally remains supply-driven, reflecting disruptions at West Asian smelters, alongside logistical constraints and declining LME inventories," Kotak Securities said in a report. "The market looks structurally tight, with deficits expected to persist," the brokerage said.

 

JPMorgan Chase expects a global deficit of around 1.9 million tonnes in 2026, largely due to disruptions in West Asia, analysts at Kedia Advisory said. The situation has been further aggravated by the shutdown at Emirates Global Aluminium's Al Taweelah smelter, which could take up to a year to fully restore, they said.

 

COPPER prices rose amid renewed hopes of de-escalation as the US and Iran prepare for another round of peace talks. "Optimism that the US and Iran could restart talks helped unwind some of the recent pressure from fears of higher energy costs and weaker growth," analysts at ING Economics said in a report. On Wednesday, the White House said that talks regarding a potential second round of peace negotiations with Iran are "ongoing" and "productive". US President Donald Trump Wednesday claimed that the conflict with Iran was "very close to over" even as the blockade tightened.

 

"However, the market remains highly headline-driven. Any escalation in the conflict, renewed spikes in energy prices or signs of softer demand could quickly reverse sentiment," analysts at ING said.

 

At 1900 IST, on the MCX, the April futures contract of:

--Aluminium was at INR 373.55 a kg, up 1%
--Copper was at INR 1,276.00 a kg, up 0.2%
–-LEAD was at INR 195.30 a kg, up 0.3%
–-ZINC was at INR 342.00 a kg, up 1%

 

The May futures contract of NICKEL was at INR 1,746.50 a kg, up 0.3%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 370.00-INR 376.00

--Copper contract seen at INR 1,260.00-INR 1,285.00
--Lead contract seen at INR 193.00-INR 197.00

--Zinc contract seen at INR 337.40-INR 345.00

--Nickel contract seen at INR 1,700.00-INR 1,780.00

 

End

 

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

 

 

Edited by Saji George Titus

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.