More Stories

Informist, Monday, Apr. 27, 2026

By Ashutosh Pati

MUMBAI – Futures contracts of all base metals on the Multi Commodity Exchange of India rose Monday, tracking a rise in contracts on the London Metal Exchange because of a fall in the dollar index. Aluminium contracts on the domestic bourse surged to a fresh record high earlier in the day due to tightening supply as the war in West Asia and the closure of the Strait of Hormuz disrupted supply from the region.

Aluminium prices surged to a record high of INR 379.65 per kilogram on MCX earlier in the day. The continued disruptions at the Strait of Hormuz, along with damage to key smelters in the UAE and Bahrain, have intensified fears of prolonged supply shocks. Since January, aluminium prices have risen over 27%, and 16% after US and Israel attacked Iran on Feb. 28. 

"Aluminium edged up 0.42% to $3,606/tonne (on LME), holding near multi-year highs as Persian Gulf supply disruptions continued to underpin sentiment," Kotak Securities said in a report. "Copper added just 0.05% to $13,316/tonne, steadied by reports that Iran has offered the US a new proposal to reopen the Strait of Hormuz, though sentiment was tempered by China's tax crackdown on circular invoicing deals, where related parties trade between themselves to obtain bank funding, which has forced many copper, aluminium, and silver traders in Shanghai to pause operations amid compliance checks," it said.

Meanwhile, aluminium production in countries under the Gulf Cooperation Council fell over 5% on year to 495,000 tonnes in March. The war in West Asia has led to production cuts by major smelters in the region, which accounts for around 9% of global aluminium output.

At 1737 IST, on the MCX, the May futures contract of:

--Aluminium was at INR 376.55 a kg, up 0.6%
--COPPER was at INR 1,300.30 a kg, up 0.5%
–-Lead was at INR 199.90 a kg, up 0.3%
–-Zinc was at INR 350.60 a kg, up 0.3%

--NICKEL was at INR 1,803.00 a kg, up 2.9%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 373.00-INR 382.00

--Copper contract seen at INR 1,290.00-INR 1,312.00
--Lead contract seen at INR 198.00-INR 202.00

--Zinc contract seen at INR 345.00-INR 355.00

--Nickel contract seen at INR 1,720.00-INR 1,860.00

End

US$1 = INR 94.19

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

Edited by Akul Nishant Akhoury

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.