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Informist, Tuesday, Jun. 17, 2025

By Ashutosh Pati

NEW DELHI – Futures contracts of copper rose on the Multi Commodity Exchange of India and the London Metal Exchange Tuesday as better-than-expected economic data from top consumer China eased concerns about demand in the country. Market sentiment was also lifted by a fall in stocks at warehouses registered with the Shanghai Futures Exchange.

China's retail sales of consumer goods, a major indicator of the country's consumption strength, expanded 6.4% on year in May, official data showed. Moreover, COPPER inventories at Shanghai Futures Exchange-monitored warehouses fell by 5,461 tonnes on week to 101,943 tonnes in the week ended Friday.

"Copper managed to edge higher following stronger-than-expected economic data out of China," Daniel Hynes, senior commodity strategiest at ANZ, said in a note. "Retail sales grew last month at the fastest pace since 2023, boosting an economy that has been strained by the trade war and a property crisis. Strong demand is also evident, with LME's European warehouses recording a drop in stockpiles for 25 consecutive days."

However, trade-related uncertainties and the escalating conflict in west Asia have dampened investor sentiment, Kotak Securities said in a report. Market participants will take further cues from the US industrial production data due later in the day.

ALUMINIUM prices rose while LEAD prices fell on the MCX. ZINC contracts were steady.

At 1827 IST, on the MCX, the June futures contract of:

-–Aluminium was at INR 244.40 a kg, up 0.8%

–-Copper was at INR 880.50 a kg, up 0.2%

–-Lead was at INR 178.75 a kg, down 0.5% 

–-Zinc was steady at INR 252.50 a kg 

Trading levels for the day on the MCX:

--Aluminium contract seen at INR 239.10-INR 246.50

--Copper contract seen at INR 867.50-INR 890.30

--Lead contract seen at INR 177.10-INR 180.10

--Zinc contract seen at INR 247.60-INR 256.70

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Rajeev Pai

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