India Base Metals
Copper rises on renewed concern over supply
This story was originally published at 18:58 IST on 23 October 2025
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By Ashutosh Pati
MUMBAI – Futures contracts of copper rose on the Multi Commodity Exchange of India and the London Metal Exchange Thursday because of renewed concern over supply following reports of a partial mine collapse in the Dominican Republic, according to analysts. Market sentiment was also buoyed by hope of stimulus from top consumer China.
"Reports of another mine disruption in the copper market also raised concern of supply tightness," said Daniel Hynes, a senior commodity strategist at ANZ Research, in a note. "Approximately 80 miners were trapped when a mine partially collapsed in the Dominican Republic," Hynes said.
China concluded its ongoing Fourth Plenum Thursday and traders expect more stimulus in the new five-year plan. Moreover, China's industrial output data rose 6.5% on year in September, further supporting copper prices.
"Copper has been well supported by supply side disruptions that tightened market fundamentals," Hynes added. Accidents and suspension of operations at major mines in Indonesia and Chile have amplified supply concerns. The International Copper Study Group expects the global copper market to swing to a deficit in 2026 from a surplus this year due to slower growth in production. The group now expects a deficit of around 150,000 tonnes in 2026, compared with its earlier projection of a surplus of 209,000 tonnes.
At 1811 IST, on the MCX, the October futures contract of:
-–ALUMINIUM was at INR 265.35 a kg, up 0.4%
–-COPPER was at INR 990.70 a kg, up 1.0%
–-LEAD was steady at INR 178.80 a kg
–-ZINC was at INR 298.70 a kg, down 0.8%
The November futures contract of NICKEL was at INR 1,325.00 a kg, up 0.6%
Trading levels for the day on the MCX:
--Aluminium contract seen at INR 261.50-INR 268.70
--Copper contract seen at INR 968.50-INR 1,010.00
--Lead contract seen at INR 175.60-INR 180.70
--Zinc contract seen at INR 294.80-INR 308.80
--Nickel contract seen at INR 1,305.00-INR 1,331.80
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Subhojit Sarkar
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