Aluminium Price Chart And Analysis

Base Metals Commodity Market in India

India is full of investment opportunities and avenues. Among them, commodity market captures a huge space in them. Commodities are the raw materials which are used to make final products. There is a variety of range available under commodity trading like bullion, base metal, energy etc. In order to make the subject more clear, we divide the commodity into three different section. Today’s center point is one of the base metals. Previously, a page of bullion has been created. Today, we are going to deal with Aluminium Price Chart And Analysis comes under base metal section.

Before proceeding further, let’s have a quick idea regarding the base metal. The term “base metal” itself suggests its meaning. The base metal is exactly the opposite of bullion. They are easily available and inexpensive. Base Metals are generally used for commercial as well as industrial application. Among the broad range of metal commodity, we will focus on the Aluminium commodity.

Commodity Exchange in India

India has quite a promising market in commodity trading. In order to regulate the market, there are numbers of regional and national commodity exchanges present in the country. Among them, MCX (Multi Commodity Exchange) is the popular one. Apart from this, there are exchanges like NCDEX, NMCE, ICEX etc. MCX closely follow the international price of Aluminium, trades on the LME (London Metal Exchange). If you notice properly, you can find a similarity on the Aluminium prices with the LMX price. A snapshot of LME’s graph on Aluminium’s production, supply and average are given below:

Aluminium, A Base Metal

Aluminium is such a metal which is never found in its metallic form. It is basically a compound of other elements, discovered by Danish Hans in the early 19th century.  Later, cost-effective ways of extracting the metal had been discovered. Through primary productions, annually 60 million Aluminium is being produced globally. India is ranked fourth in the global Aluminium production. Industries like automotive, building and constructions, defense, electrical-electronics, pharmaceuticals, white good are the huge user of Aluminium. This article, you will get live updated Aluminium price as well as a daily chart, live technical indicator analysis. Aluminium Price support and resistance, Aluminium Futures Daily Candlestick Chart are given below:

Aluminium Price Support And Resistance

NameS3S2S1Pivot PointsR1R2R3
Classic147.11147.38147.66147.93148.21148.48148.76
Fibonacci147.38147.59147.72147.93148.14148.27148.48
Camarilla147.8147.85147.9147.93148148.05148.1
Woodie's147.13147.39147.68147.94148.23148.49148.78
DeMark's--147.8148148.35--

Aluminium Futures daily Candlestick Chart

Aluminium Futures Daily Candlestick Chart

The chart is a live chart, will updated automatically. Users only need to keep the page refresh.

Usage of the Base Metal, Aluminium

There are multiple usages of the base metal. Some of the usages are given below:

Automobiles

In the automobile industry, Aluminium is an important metal. For making lightweight parts the usage of Aluminium is wide. Apart from this, it helps to maintain fuel efficiency in cars.

Building and Constructions

In the field of constructions, Aluminium is used as an energy efficient as well as sustainable metal.

Electrical

Aluminium works as a good conductor of electricity. It is widely used in making the electrical wiring.

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Aerospace

In the constructions of rocket and aircraft, the usage of Aluminium is vast. Aluminium alloys are used in this industry.

Foil and Packaging

In Packaging of Medicine packets, beverages, sodas, candies, Aluminium is used. It keeps the food products clean and refreshed. In the foreign country, aluminium Can is widely used for packing food.

Investment Options

As the price of aluminium is quite low in comparison to other, it plays an important investment option. High demand for aluminum raises its value to a great extent. Aluminium can be traded both in the over the counter market as well as in the exchange. The commodity market in India captures a lot of attention. Aluminium as a commodity plays a vital role in the Indian financial field.

Reasons to Invest in Aluminium Commodity

  • Industrial demand for the particular base metal is one of the main reasons for high demand.
  • General purpose usage of aluminium pushes the demand of the metal upwards.
  • Lower input cost makes it more demandable.
  • It’s high demand worldwide makes the metal more valuable.

Aluminium in the Indian Commodity Market

Aluminium is such a metal which has the versatility. The lightweight and robust material is worth adding any investor’s portfolio for getting a returnable profit. This is considered the second most widely used metal after the steel. Recycling aluminium is a power-friendly affair which requires near about 5 percent of the power. It is such a material which has abundant supply and demand in India. Investors can gain profit from the commodity on a daily basis.

At the beginning of the article, I have mentioned the Multi Commodity Exchange. Generally, a vast section of investors chooses future trading of the commodity through the MCX. Aluminium is also widely traded in the future commodity market. There are intraday trading too. MCX closely follows the price of aluminium, traded on the London Metal Exchange or LME, a snapshot of LME is given below:

Aluminium Price Chart And Analysis

The above data is linked with the production, average price, the supply of Aluminium on London Metal Exchange (LME).

The mini version of Aluminium trading in MCX called Alumini while the regular version is termed as Aluminium. Lot size of Aluminium in MCX is 5 MT while in Alumini is 1 MT. Small traders can trade for 50 paise to 1 rupee gain at multiple times. Traders can check regularly the global aluminium price as well as price curve by following LME site.

For Intraday trading, traders can use pivot points, the super trend to get an achievable trade.

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