Here is the latest mcx aluminium live price analysis.
MCX Aluminium Live Price as on 24/05/22
On the MCX, aluminium futures price change is about -0.58% to previous day close 247.30. The total volume of shares traded is 147.00.
Over the last one week aluminium price change is about 1.36%. Over the last 30 days, the price change is about -10.56%.
MCX Aluminium Live Price Today
MCX Aluminium Trading System 1 :
How to Trade the Live MCX Aluminium Intraday Signals
BUY Trade Entry
Green up arrow & candle stick must trade above the yellow trend line.
BUY Trade Exit
Trail Stop-loss as per green dotted lines or stop loss price given in text box or when a candle stick crosses below the yellow trend Line
SELL Trade Entry
Red Down arrow & candle stick must trade below the yellow trend line.
SELL Trade Exit
Trail Stop-loss as per red dotted lines or stop loss price given in text box or when a candle stick crosses above the yellow trend Line
We also expect the commodity aluminium futures to react on the above support and resistance levels for today.
MCX Aluminium Trading System 2 :
How to Trade the MCX Aluminium Multiple Super Trend
BUY Trade Entry
When both super trend indicators are in uptrend. In other words two green stop loss lines below the candlestick.
BUY Trade Exit
When either of the super trend goes in downtrend.
SELL Trade Entry
When both super trend indicators are in downtrend. In other words two red stop loss lines above the candlestick
SELL Trade Exit
When either of the super trend goes in uptrend.
We have further improved the famous super trend strategy by using two different super trend indicators for generating trade call signals. The strategy increase profits by almost 70% by using two super trend indicators and also helps in exiting fast from the market when the trend is not intact.
Aluminium Price Technical Analysis
Quant's Today Trend score for MCX Aluminium is 3
* A trend score of greater than 5 signals that the commodity is bullish for the day while trend score of less than 2 signals bearish trend*
RSI is 41.03
MACD : -4.99
Signal Line : -6.78
%D is 76.06
%K is 67.04
BBTop is 254.47
BBBot is 231.03
Simple Moving Average Short Term
SMA(15) is 240.72
Simple Moving Average Mid Term
Simple Moving Average Long Term
MCX Aluminium Overview
Aluminium (Al) is the most widely and extensively used non-ferrous metal with white silvery texture. It is soft and malleable and has multipurpose uses. It is the third most abundant element in the Earth’s crust. Aluminium is found in the combined form as oxide and silicate, and it has to be separated from its ore to put to further uses.
It is so widely used, and the end-user of aluminium ranges from the aerospace industries to the daily household user. The following are the various places where it is in high demand:
- Aerospace industry: Aluminium is used extensively in the aircraft and rocket construction.
- Automobiles: Being lightweight it is used in small parts in the construction of the motors to enhance fuel efficiency.
- Building and Construction: Aluminium is durable and long-lasting. These qualities make it suitable to be used in building and construction material.
- Electronic appliances: It is widely used in all kind of electronic devices ranging from refrigerator, washing machines to more sophisticated ones like the laptop.
- Electrical: It is the second-best conductor of electricity after silver. As silver is expensive, so it is considered as its perfect substitutes and is widely used in electric wires and appliances.
- Daily needs: Aluminium has found its presence in day to day living and in every household. It is commonly used in packaging such as medicines packets, candies wrap, and also as aluminium foil to wrap lunch boxes.
The multipurpose uses of aluminium make it accessible and in high demand. As the supply side of this metal remains unstable due to government trade policies and other geopolitical events, the price of this metal tends to fluctuate.
Factors affecting the price of aluminium
- Price of electricity: The smelting process that separates the aluminium from its oxide requires a significant amount of energy. So any change in the price of electricity in that region will directly impact its cost.
- New advanced material: The biggest market for aluminium in any developed country is the transport industry. The building of the automobiles and aerospace requires a considerable amount of it.
The aviation industry is exploring its ways of using lighter and new materials made of carbon fiber. It will reduce the consumption of aluminium to 50% and will significantly impact its demand, and thereby decline in price can be seen. Such advances and research will make it less accessible and will also reduce its consumption.
- Economic Cycle: The second biggest market for aluminium is the building and construction sector of the economy. When an economy is booming, the construction and building also grow at a fast pace, and thus it creates more demand for this metal. This increase in demand surges its price.
During a recession when the whole economy slows down the construction and building halts. It again impacts the demand of the aluminium, and its price plunges to no small extent.
- Government restrictions: Time to time government alters its import and export policies. Cost of the aluminium gets affected if the import and export duty on it changes due to government policy changes
The fluctuation in the prices of aluminium calls for proper and efficient risk management. It can easily be achieved through MCX
This metal is traded over MCX. MCX not only offers risk management but also improves the efficiency of the market by providing financial derivatives like aluminium futures.
Contract Specifications of Aluminium
Contracts are available as per the Contract launch calendar given below
Contract Start Day
1 st day of contract launch month. If 1st day is a holiday then the following working day
Last Trading Day
Last calendar day of the contract expiry month.
5 metric ton
Profit/Loss made for every ₹ 1 change
Monday to Friday
10.00 a.m. to 11.30/ 11.55 p.m
Minimum 4% or based on SPAN whichever is higher.
Contract Launch Calendar
Contract Launch Months
Contract Expiry Months
* Contract Launch Calendar Source MCXINDIA https://www.mcxindia.com/home
MCX Aluminium Price History
Get MCX Live Price of the major commodities listed on the multi-commodity change of India. Technical Live Price analysis of the commodity MCX Aluminium is researched every day and updated daily.