Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
On the Multi Commodity Exchange (MCX), aluminium futures were mostly trading within the range of ₹199 and ₹202 during the period between February 2 and February 16. Monday saw the contract settle at ₹197.45, breaking below the range.
The likelihood of a further decline is significant because the contract has produced a lower low on the daily chart, and the overall trend has been bearish. While there is support at ₹192, we believe that aluminium futures will soon fall below ₹186.
To convert the trend bullish, aluminium futures should surpass the barrier at ₹205 during a recovery. such a move takes place, the contract may increase to ₹215 or even ₹220. However, the bias is currently bearish.
Short aluminium futures now at ₹196. Add shorts if the contract rises to ₹200. Place stop-loss at ₹204. When the price below ₹190, tighten the stop-loss to ₹195. Book profits at ₹186.
Also Read : Demand for non-ferrous metals to remain at around 10% in FY25: Icra Aluminium futures rise on fresh bets
BSL management signed a memorandum of understanding (MoU) with Chennai-based Ram Charan Company Priv...
Mid Corporate 01-Apr-2024
1️⃣ Green TMT Bars promote sustainable construction with low-emission manufacturing.2️⃣ The initiati...
Business 31-Mar-2025
India remained a net steel importer for FY 2024-25, with imports exceeding exports by 0.4 MT. Key i...
Business 09-Apr-2025
The escalating Middle East crisis is starting to weigh on the steel industry, with rising oil, LNG,...
Europe 09-Mar-2026
NTPC Green Energy Ltd (NGEL) has signed an initial agreement with Indus Towers Ltd to address the ne...
Renewables 19-Apr-2024
Steel imports into the European Union rose 14% year on year in 2025, including semi-finished p...
Europe 17-Mar-2026