More Stories

Informist, Wednesday, Sept. 10, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper on the Multi Commodity Exchange of India and the London Metal Exchange rose Wednesday after London-based miner Anglo American and Canada's Teck Resources announced a merger plan, set to create the world's fifth-largest copper company, analysts said. Market sentiment was also lifted due to concerns about supply.

 

Under the proposed deal, which will require regulatory approvals, Anglo American shareholders would own 62.4% of new company Anglo Teck, while shareholders in Teck would hold 37.6%, Reuters reported. 

 

COPPER prices also rose after reports of suspension in operations following an incident at the Grasberg Mine in Indonesia, world's second-largest copper mine. Reuters reported that a large flow of wet material blocked access to parts of the underground mine, restricting evacuation routes for seven workers.

 

"A prolonged disruption at the second-largest copper mine in the world could tighten the market which is already facing a shortage of feedstock," Daniel Hynes, senior commodity strategist at ANZ Research said in a note. "This follows disruptions at El Teniente mine in Chile, which highlighted the fragility of supplies the industry is facing," Hynes added.

 

Market participants are now eyeing US inflation data due Thursday to gauge the quantum of rate cuts likely this year.

 

At 1759 IST, on the MCX, the September futures contract of:
-–ALUMINIUM was steady at INR 255.35 a kg
–-Copper was at INR 903.55 a kg, up 0.1%
–-LEAD was at INR 180.70 a kg, down 0.1%
–-ZINC was at INR 276.00 a kg, up 0.2%
--Nickel was at INR 1,337.70 a kg, down 0.2%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 253.00-INR 257.70
--Copper contract seen at INR 893.30-INR 911.80
--Lead contract seen at INR 179.40-INR 181.70
--Zinc contract seen at INR 271.90-INR 279.50
--Nickel contract seen at INR 1,323.20-INR 1,362.80

End

 

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 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

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