Aluminium prices advance as industrial metal demand holds firm

Aluminium prices rose higher this Monday, owing to the stronger overseas markets and improved confidence among traders in industrial metals all over again. The broader mood across commodity markets remained positive, helped by expectations of stable demand and easing global uncertainties.

At MCX, the actively traded May aluminium contract climbed by roughly USD 0.01 (INR 1.15) to about USD 4.65 (INR 387.10) per kilogram, marking a gain of 0.3 per cent. Trading activity stayed healthy, with turnover reaching 1,712 lots during the session.

The June contract also moved upwards, rising by nearly USD 0.01 (INR 0.7), or 0.18 per cent, to around USD 4.61 (INR 384.25) per kilogram. Volumes in the June delivery contract stood at 3,140 lots, reflecting continued participation from market players.

Analysts linked the upward movement to firmer international trends in base metals and a stronger appetite for risk among investors. Industrial metals have generally benefited from a more optimistic outlook in recent sessions, particularly as concerns surrounding global economic conditions appeared to ease slightly.

In overseas trade, aluminium futures on the London Metal Exchange (LME) advanced by USD 12.85, or 0.35 per cent, reaching USD 3,650.90 per tonne. Market watchers noted that softer movement in the US dollar added support to commodity prices, making metals more attractive to buyers using other currencies.

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