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Informist, Thursday, Oct. 16, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper rose on the Multi Commodity Exchange of India Thursday, on expectations of further rate cuts by the US Federal Reserve this year. Market sentiment was also supported by tight global supplies following a series of disruptions in key mines across the globe. However, renewed trade tensions between China and the US capped the gains in the copper prices.

 

"Copper gained after Fed Chair Powell signalled the central bank is on track to cut rates later this month," Daniel Hynes, senior commodity strategist at ANZ Research, said in a note. "In a speech at the National Association for Business Economics' annual meeting, he said the economic outlook appeared unchanged since policymakers met in September, when they lowered rates and projected two more rate cuts this year," Hynes said. According to CME's FedWatch tool, 95.7% of traders are pricing in a 25-basis-point rate cut this month while 4.3% anticipate rates to remain unchanged at 4.00-4.25%.

 

Supply concern persisted as output disruptions in Chile and Indonesia tightened global production, with Codelco reporting its weakest monthly output in over two decades and Grasberg mine operations still limited after previous month's accident.

 

Tensions between Washington and Beijing showed little signs of easing. US Treasury Secretary Scott Bessent proposed a longer pause on high tariffs on Chinese goods to resolve a conflict over Beijing's export controls on critical minerals, which have fuelled tensions recently. However, US President Donald Trump declared the US was now locked in a trade war with China.

 

At 1539 IST, on the MCX, the October futures contract of:
-–ALUMINIUM was at INR 262.90 a kg, up 0.1%
–-COPPER was at INR 993.05 a kg, up 0.1%
–-LEAD was at INR 178.90 a kg, down 0.3%
–-ZINC was at INR 290.45 a kg, up 0.2%

 

The November futures contract of NICKEL was at INR 1,331.00 a kg, down 0.1%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 261.00-INR 264.00
--Copper contract seen at INR 985.00-INR 1,000.00
--Lead contract seen at INR 177.00-INR 180.00
--Zinc contract seen at INR 288.00-INR 292.00
--Nickel contract seen at INR 1,315.00-INR 1,350.00

End

 

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

 

Edited by Subhojit Sarkar

 

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