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Informist, Tuesday, Oct. 28, 2025

By Ashutosh Pati

MUMBAI – Futures contracts of copper on the Multi Commodity Exchange of India and the London Metal Exchange fell Tuesday after a sharp rise in prices Monday, as investors took profits, analysts said. Market participants are now waiting for the outcome of the US Federal Open Market Committee meeting late Wednesday and the meeting between US President Donald Trump and his China counterpart Xi Jinping Thursday.

"Expectations remain high ahead of this week's Trump-Xi summit in South Korea, where both leaders are set to finalize a framework agreement following recent diplomatic progress," Kotak Securities Ltd. said in a report. "However, with details still uncertain and broader markets turning cautious ahead of the US Fed's (Federal Reserve's) policy decision, sentiment remained subdued," it said.

Prices of all other metals also fell on both exchanges amid subdued sentiment in the market, according to analysts.

COPPER prices had risen sharply Monday as trade tensions between China and the US eased. The two countries have agreed on the framework of a trade deal, which will be discussed when Trump and Xi meet Thursday. Copper prices on the LME had risen more than 1% Monday before paring some of their gains. Concerns about supply had also supported prices.

At 1922 IST, on the MCX, the November futures contract of:
-–ALUMINIUM was at INR 270.00 a kg, down 0.2%
–-Copper was at INR 1,005.55 a kg, down 0.5%
–-LEAD was at INR 182.50 a kg, down 0.4%
–-ZINC was at INR 297.95 a kg, down 0.7%

--NICKEL was at INR 1,326.00 a kg, down 0.1%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 263.50-INR 270.90
--Copper contract seen at INR 990.00-INR 1,011.90
--Lead contract seen at INR 181.00-INR 184.00
--Zinc contract seen at INR 299.10-INR 305.50
--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 Rajeev Pai

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