More Stories

Informist, Monday, Sept. 22, 2025

By Ashutosh Pati

MUMBAI – Futures contracts of copper on the Multi Commodity Exchange of India were steady Monday as market participants are awaiting speeches by several US Federal Open Market Committee officials later in the day and Fed Chair Jerome Powell's key speech Tuesday to gauge the central bank's monetary policy outlook.

The US FOMC on Wednesday voted to reduce the federal funds target rate range by 25 basis points to 4.00-4.25%, after keeping it unchanged for five consecutive meetings. In its economic projections, the panel indicated chances of two additional 25-bps rate cuts this year. While terming the rate cut a "risk management cut", US Federal Reserve Chair Jerome Powell explicitly stated that "more aggressive rate cuts did not receive broad support" and reiterated that the impact of tariffs on inflation was only temporary.

Copper prices had risen in the previous session after Chilean state-owned mining company Codelco said its biggest mine, El Teniente, could take longer to return to full production than originally planned after a deadly tunnel collapse in July, analysts said. The fall in production will probably exceed the 33,000 tonnes originally forecast by the company. 

Daniel Hynes, senior commodity strategist at ANZ Research, said base metals might lag until real economic activity picks up.

At 1928 IST, on the MCX, the September futures contract of:
-–ALUMINIUM was at INR 255.15 a kg, down 0.8%
–-Copper was steady at INR 907.10 a kg
–-LEAD was at INR 182.75 a kg, up 0.1%
–-ZINC was at INR 278.80 a kg, up 0.9%

The October futures contract of NICKEL was at INR 1,345.00 a kg, up 0.6%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 254.00-INR 257.00
--Copper contract seen at INR 902.00-INR 913.00
--Lead contract seen at INR 181.00-INR 183.00
--Zinc contract seen at INR 277.00-INR 281.00
--Nickel contract seen at INR 1,330.00-INR 1,360.00

End

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

Edited by Avishek Dutta

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.