Tag Archives: News analysis about base metals

Boom in Aluminum Base Metals Today due to production Reduction

Generally, prices of Aluminum used in packaging and auto sector are increasing rapidly and today the domestic market has reached the level of 130. In fact, Aluminum has crossed the level of $ 2000 per tonne on the London Metal Exchange, which has a record level of about three and a half years and during this year, there has been an increase of about 19 percent in Aluminum. Actually, citing environmental reasons, China has banned 32 million tonnes of Aluminum production companies, which produce nearly 9 percent of total Aluminum in China. Almost half of the world’s Aluminum is in China. In this way, China’s move has increased the fear of Aluminum crisis in the global market.

In the meantime, the demand has increased, MCX Copper has also gone up to 2.5 years. Zinc and Nickel are also trading on the edge. At present, Aluminum is trading at Rs 129.15 with a rise of 0.3% on MCX. Copper is trading at 0.14 percent with a marginal increase of 414.4. Nickel is trading at Rs 686.7 with an increase of 0.4 percent. Lead is trading 0.5 percent and is trading at Rs 152.6. Zinc has increased 0.4 percent to 187.7 rupees.