MCX snapshot: gas rallies, metals slip
Indian commodity snapshots show natural gas jumping 2.65% to 305.50 INR, gold easing 0.16% to 160,020 INR, and aluminum sliding ~0.70% — traders are pointing to USD strength and yield spikes as the backdrop [](https://x.com/i/status/2032326936639558122).
The gas leg‑up tracked a shutdown at Qatar’s Ras Laffan LNG complex after a drone strike, removing a material chunk of export capacity. bloomberg.com Asia’s JKM LNG benchmark jumped to roughly $15.5–$17/MMBtu on March 12, and domestic futures on MCX printed intraday highs above ₹300 per mmBtu that week. lngpriceindex.com Global aluminium weakness showed through on benchmark markets — LME aluminium slid to about $3,420/ton on March 13 (down ~2.5%), while MCX aluminium futures eased roughly 0.7% in the same window. tradingeconomics.com Precious metals came under pressure as U.S. 10‑year Treasury yields climbed into the low‑4% area and the dollar strengthened (DXY near 100), with traders citing firmer yields and a stronger greenback as the immediate headwinds. tradingeconomics.com Broader market participants linked the split move — supply shocks driving energy and macro/rates dynamics pressuring metals — to the March 3–13 period of geopolitical flare‑ups and a global bond sell‑off that erased much of 2026’s gains. cnbc.com
