Aluminium prices are experiencing a notable increase, rising 1.2% to ₹357.20 per kg, driven by supply disruptions due to escalating geopolitical tensions in the Middle East, particularly the ongoing conflict involving Iran. Ajit Mishra, Senior Vice President of Research at Religare Broking, attributes this rally to supply shocks, including Iran's missile strikes impacting aluminium smelters. The current volatility in prices is influenced by the risk of sudden de-escalation in the region, which could lead to profit-taking by traders. Despite this, the outlook remains positive as long as structural supply constraints persist. Major producers in the Gulf Cooperation Council (GCC) have halted refining activities, risking a suspension of operations in a region that contributes 10% of global aluminium supply. Mishra suggests maintaining a buy strategy, targeting prices between ₹370-372 while keeping a stop loss at ₹335. The technical outlook indicates a bullish trend, supported by recent price movements above key moving averages.