Aluminium signals recovery after correction; supply risks and energy concerns may drive the next leg higher
After scaling a record high of around ₹393 per kg on the MCX during the first week of June, aluminium prices witnessed a healthy correction to nearly ₹330 per kg amid profit-booking and easing concerns over immediate supply disruptions. A similar price action has witnessed on the key global markets as well. However, the metal is once again showing signs of strength, with prices attempting to break through the important resistance zones. The recent rebound has been supported by tightening global inventories, concerns over energy availability in key producing regions, geopolitical tensions in th