Hot Commodities: MCX Aluminium Breaks Above Rs 150 As US Plans Fresh Sanctions On Russia

MCX Aluminium futures soared yet again, adding to their recent gains on ideas that a global supply shortage would hit the metal following the latest geopolitical tensions. The US plans to impose a new round of sanctions on Russia for supporting Syria. This is likely to hurt the global supplies of the metal from Rusal, the worlds second largest aluminium producer. The shares in Rusal have plummeted nearly 70% in last two weeks after the US imposed wide-ranging vast sanctions on Russia. MCX Aluminium futures have been in a terrific form recently. The metal broke above Rs 150 per kg levels and currently trades at Rs 152.70 per kg, up nearly 2% on the day.