Aluminum in cold mood, struggling to cross 100 at MCX

AHMEDABAD （Commodity Online）: MCX Aluminum gained in evening session on positive global cues and support of global equity markets yesterday. In the latest trade, Aluminum futures ended in green at 98.75 per kilo gram.

At MCX counter, Aluminum delivery contract opened slightly lower at 95.50 dropped by 0.35 percent per kilogram with total volume 2277 lots. Aluminum prices recovered from two days of successive loss from 96.55 by taking support at lower levels.

Aluminum has fallen from long peak at 102 till 96.50 in last week. In this week, Aluminum prices declined after posting strong gains in earlier weeks. Aluminum is one metal which remains weak amidst strong metal rally.

Aluminum price is struggling to cross 100 from last few days. In last two days Aluminum futures recovered more than 1 percent but still it can be considered a lesser recovery compared to other metals.

“Aluminum future seems to be in cold mood and looks weak below 100. Currently, MCX aluminum future is stuck in narrow band of 95-100. In case prices will not break 100 than I can see bear-run to continue for coming days,” said Amrita Mashar。