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Informist, Tuesday, Jul. 22, 2025

By Ashutosh Pati

MUMBAI – Futures contracts of base metals were mixed on the Multi Commodity Exchange of India and the London Metal Exchange Tuesday. Copper and zinc contracts rose while lead contracts fell and aluminium contracts held steady. Copper contracts traded higher because of signs of rising demand from top consumer China, according to analysts.

The red metal found support from signs of rising Chinese demand, with June's refined copper imports surging 15% on month, and concerns over tightening scrap supply as US exports to China hit a 21-year low amid impending tariffs, Kotak Securities said in a report. Market sentiment was further buoyed after China's industry ministry pledged to stabilise growth in key manufacturing sectors, fuelling hopes for stronger industrial activity, the report added.

However, gains were capped as investors were cautious ahead of the Aug. 1 deadline for US tariffs. Market participants will closely monitor trade talks between the US and the European Union this week. US President Donald Trump has threatened to impose sweeping 30% tariffs on most EU countries from Aug. 1 if no deal is reached. The EU is also reportedly preparing a broader package of possible countermeasures.

Meanwhile, COPPER stocks at Shanghai Futures Exchange monitored warehouses rose by 3,094 tonnes on week to 84,556 tonnes in the week ended Friday. ALUMINIUM stocks rose by 5,625 tonnes to 108,822 tonnes and ZINC stocks rose by 4,649 tonnes to 54,630 tonnes in the week ended Friday. LEAD inventories rose by 7,186 tonnes on week to 62,335 tonnes.

At 1758 IST, on the MCX, the July futures contract of:
-–Aluminium was steady at INR 253.50 a kilogram
–-Copper was at INR 897.05 a kg, up 0.1%
–-Lead was at INR 178.60 a kg, down 0.2%
–-Zinc was at INR 267.80 a kg, up 0.2%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 250.40-INR 256.20
--Copper contract seen at INR 886.10-INR 906.20
--Lead contract seen at INR 177.30-INR 179.80
--Zinc contract seen at INR 262.50-INR 272.50

End

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

Edited by Subhojit Sarkar

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