More Stories

Informist, Friday, Jun. 20, 2025

By Ashutosh Pati

NEW DELHI – Futures contracts of copper rose on the Multi Commodity Exchange of India Friday, tracking a rise in contracts on the London Metal Exchange because of weakness in the dollar. Market sentiment was also lifted by a fall in inventories at warehouses monitored by the Shanghai Futures Exchange.

At 1725 IST, the dollar index, which measures the strength of the greenback against a basket of six currencies, was down 0.1% at 98.70. A weak dollar makes dollar-denominated commodities such as copper cheaper for those holding other currencies, aiding demand.

COPPER inventories at Shanghai Futures Exchange-monitored warehouses fell by 1,129 tonnes on week to 100,814 tonnes in the week ended Friday. Copper also found support from dwindling inventories at LME-accredited warehouses. "...supply concerns are currently supporting copper and aluminium prices in particular. LME inventories have recently fallen significantly and are approaching the lows seen in 2022-23," Thu Lan Nguyen, head of FX and commodity research at Commerzbank, said in a report.

"Additionally, markets experienced a temporary sense of relief after fears of immediate escalation (in West Asia) eased, following (US President Donald) Trump's indication that a decision on whether to strike Iran would be made within two weeks," Kotak Securities said in a report.

ALUMINIUM, ZINC, and LEAD contracts were in the red. However, the fall in prices of aluminium and zinc was restricted by a drop in stocks at warehouses monitored by the Shanghai Futures Exchange. Aluminium stocks fell by 5,517 tonnes to 104,484 tonnes in the week ended Friday and zinc inventories fell by 2,602 tonnes on week to 42,864 tonnes. Lead stocks, however, rose by 1,480 tonnes on week to 51,291 tonnes in the week ended Friday.

Market participants now await the US Flash Manufacturing Purchasing Managers' Index due Monday for further cues.

At 1735 IST, on the MCX, the June futures contract of:

-–Aluminium was at INR 244.50 a kg, down 0.3%

–-Copper was at INR 881.90 a kg, up 0.4%

–-Lead was at INR 178.90 a kg, down 0.2% 

–-Zinc was at INR 252.80 a kg, down 0.3%

Trading levels for the day on the MCX:

--Aluminium contract seen at INR 240.60-INR 247.80

--Copper contract seen at INR 868.90-INR 887.80

--Lead contract seen at INR 177.20-INR 180.20

--Zinc contract seen at INR 249.30-INR 257.30

End

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

Edited by Ashish Shirke

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.