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Informist, Monday, Oct. 27, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of most base metals on the Multi Commodity Exchange of India and the London Metal Exchange rose Monday because of easing trade tensions between China and the US. Zinc prices surged past the $3,000-per-tonne mark on the LME due to concerns about supply, according to analysts. 

"The rally in zinc was underpinned by deepening supply constraints as smelting bottlenecks in Japan and Kazakhstan tightened refined output," Kotak Securities said in a report. "The closure of Japan's Zinc plant further strained supplies, while treatment charges rose to $87.5 per tonne, reversing last year's negative levels."

 

Base metals remain underpinned by tightening supply dynamics and improving risk sentiment, though further direction will hinge on the final outcome of the US–China talks, the brokerage said.

 

Officials from both the US and China said they had agreed on a framework for a trade deal after two days of discussions in Malaysia on the sidelines of the Association of South-East Asian Nations summit. US Treasury Secretary Scott Bessent said the framework would eliminate the threat of 100% tariffs on Chinese imports, which are scheduled to begin Saturday.  

 

"I think we're going to have a deal with China," US President Donald Trump said after the talks, according to media reports. Bloomberg reported that a Chinese official said the two nations had reached a preliminary consensus on issues such as export controls, fentanyl and shipping levies. Trump is set to meet his Chinese counterpart Xi Jinping Thursday in South Korea.

At 2000 IST, on the MCX, the November futures contract of:
-–ALUMINIUM was at INR 270.25 a kg, up 0.4%
–-COPPER was at INR 1,009.35 a kg, up 0.7%
–-LEAD was at INR 183.10 a kg, up 0.4%
–-ZINC was at INR 298.65 a kg, up 0.8%

--NICKEL was at INR 1,325.10 a kg, down 0.2%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 268.00-INR 272.00
--Copper contract seen at INR 1,000.00-INR 1,020.00
--Lead contract seen at INR 182.00-INR 184.50
--Zinc contract seen at INR 297.00-INR 301.00
--Nickel contract seen at INR 1,310.00-INR 1,350.00

End

 

US$1 = INR 88.24

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

 

Edited by Tanima Banerjee

 

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