Aluminium futures are trading at ₹356.35 on the MCX, maintaining momentum after breaking above the ₹350 resistance level. Investors are now watching the ₹365 mark as the next potential target, while tracking global cues and potential support levels in case of a price correction.
Aluminium futures on the Multi Commodity Exchange (MCX) are maintaining a steady upward trend, trading at ₹356.35 per kg as of August 11, 2026. This price movement follows a recent breakout above the ₹350 level, which had previously acted as a key point of resistance. The current rise is driven by a combination of speculative buying and consistent demand from industries that rely on the metal, such as construction, automotive, and packaging.
It is important for market participants to note that domestic aluminium prices are closely linked to global benchmarks. The three-month aluminium contract on the London Metal Exchange (LME) was recently trading at $3,335.5 per metric ton. Changes in these global prices, or factors like geopolitical tensions that impact supply chains and logistics, often influence the domestic futures market.
For those tracking the price trend, the ₹365 mark is currently identified by analysts as a significant resistance point. In market terms, resistance is a level where a price increase often slows down because selling pressure tends to build up. If the contract reaches this level, investors typically watch for potential profit-booking, which can lead to a temporary pause or a correction in the price.
While the current trend is positive, there are risks to consider. A decline below the ₹350 support level could signal a trend reversal, with potential lower support points identified at ₹345 and ₹336. Furthermore, investors looking at companies in the aluminium sector should monitor input costs. Expenses for energy and bauxite—the essential raw material for aluminium—are significant factors. If these operational costs rise faster than the selling price of the metal, companies may face pressure on their profit margins, which can affect their financial performance regardless of the headline commodity price.
The most specific update to track in the coming sessions will be whether the contract can sustain its current momentum to reach the ₹365 target or if it faces a correction back toward the ₹350 support level.