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Informist, Thursday, Sept. 11, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper rose on the Multi Commodity Exchange of India and the London Metal Exchange on Thursday due to concerns about supply disruptions after suspension of operations at a major mine in Indonesia. Market participants are now waiting for US inflation data, due later in the day, for cues on the quantum of interest rate cuts by the US Federal Reserve this year.

 

The Grasberg copper mine in Indonesia, the world's second largest copper mine, suspended operations after a large flow of wet material blocked access to parts of the underground mine, restricting evacuation routes for workers. "A prolonged disruption could tighten the (copper) market further," Daniel Hynes, senior commodity strategist at ANZ Research, said in a note. This incident comes after disruptions at the El Teniente mine in Chile.

 

"Sentiment was also supported by the prospect of stronger demand in China. Factory-gate deflation eased for the first time in six months, a sign of progress in the government's anti-involution campaign," Hynes added.

 

Meanwhile, London-based miner Anglo American and Canada's Teck Resources have announced a merger plan, which is set to create the world's fifth-largest copper company. Under the proposed deal, which will require regulatory approvals, Anglo American shareholders will own 62.4% of the new company, Anglo Teck, while shareholders of Teck Resources will hold 37.6%, Reuters reported.

 

At 1535 IST, on the MCX, the September futures contract of:
-–ALUMINIUM was at INR 257.85 a kg, up 1.0%
–-Copper was at INR 908.40 a kg, up 0.1%
–-LEAD was at INR 181.60 a kg, up 0.2%
–-ZINC was at INR 277.40 a kg, up 0.3%
--NICKEL was at INR 1,318.10 a kg, down 1.0%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 255.00-INR 260.00
--Copper contract seen at INR 903.00-INR 912.00
--Lead contract seen at INR 180.00-INR 183.00
--Zinc contract seen at INR 274.00-INR 280.00
--Nickel contract seen at INR 1,308.00-INR 1,328.00

End

 

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

 

Edited by Ashish Shirke

 

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