More Stories

Informist, Friday, Jul. 18, 2025

By Afra Abubacker

NEW DELHI – Futures contracts of all base metals rose on the Multi Commodity Exchange of India Friday, tracking the gains in contracts on the London Metal Exchange amid a weak dollar and strong US economic data. Expectations of increased demand from China after the recent dip in prices also boosted sentiment.

"LME base metals extended their gains after a strong start, with most metals rising over 1% and zinc leading the pack with a 2% jump to $2,808.50 per tonne. The rally was underpinned by a combination of risk-on sentiment, a softer dollar, and renewed optimism around US-China trade relations," Kotak Securities said. 

The US weekly jobless claims fell 7,000 to 221,000 in the week ended Saturday, the Labor Department said on Thursday. First-time claims for unemployment benefits fell to a three-month low last week, aligning with consistent job growth in July. Economists polled by Reuters had forecast 235,000 claims for the week. Meanwhile, US retail sales increased 0.6% in June after an unrevised 0.9% drop in May.

"The US economic data has been encouraging, boosting the hope of better copper demand and lowering the chances of immediate interest rate cuts," Reuters quoted a Beijing-based metals analyst at a futures company. Base metals complex also rose as some Chinese buyers stepped in to restock amid tight domestic inventories. The broader backdrop of geopolitical trade developments and hope of increased Chinese stimulus continue to offer near-term support, Kotak Securities said.

However, further gains were largely capped amid global trade turbulence, including new US tariff measures and reciprocal trade restrictions. "Markets were in wait-and-see mode after President Trump's larger-than-expected 50% tariff on copper imports, awaiting further policy updates," Dow Jones quoted analysts, as saying. 

At 1927 IST, on the MCX, the July futures contract of:
-–Aluminium was at INR 250.80 a kg, up 1%
–-Copper was at INR 888.3 a kg, up 1%
–-Lead was at INR 178.65 a kg, up 0.4%
–-ZINC was at INR 264.6 a kg, up 2.4%

End

US$1 = INR 86.14

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

Edited by Deepshikha Bhardwaj

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.