MCX aluminium futures in India were trading around ₹306.5–₹307.0 per kg, showing modest movement on the day as global prices softened and domestic markets digested recent volatility.

Summary :

Going ahead, as the traditional demand drivers of industrial metals have stalled, the short-term price outlook remains under pressure. Though the new demand areas like the clean energy sector are on the cards, they are unlikely to boost prices in the immediate run.

Prospects of China demand and near-record low inventories may support global aluminium prices 

Meanwhile, Russia is the second largest aluminium producer and a significant source of material to US markets. Slapping such a steep tariff is expected to end the US imports from Russia. Since the metal is used to make everything from beer cans to airplane parts, the US authorities should search for potential alternate supply in the event of a tariff hike.

Article Link :

https://economictimes.indiatimes.com