More Stories

Informist, Monday, Nov. 3, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of ALUMINIUM on the Multi Commodity Exchange of India and the London Metal Exchange rose Monday, supported by easing trade tensions between China and the US and concerns about supply in China, according to analysts. However, gains in aluminium were capped due to disappointing economic data from China.

 

"... aluminium prices continued their upward momentum, heading toward their highest level since May 2022, supported by easing US-China tensions and supply constraints as Chinese output approaches state-imposed capacity limits," Kotak Securities said in a report.

 

COPPER prices were steady on both exchanges as market participants assessed weak Chinese economic data and supply concerns. Data released on Friday showed that China's manufacturing sector declined for the seventh straight month in October, dragged down by a drop in new export orders as the boost from months of front-loading to beat US tariff threats finally wore off, SMC said in a report. China's official purchasing managers' index fell to 49.0 in October from 49.8 in September, lower than economists' expectations of 49.6 in a Reuters poll. China is the leading consumer of copper and weak economic data from the country could hurt demand.

 

Market participants' sentiment was also hurt by hawkish remarks from US Federal Reserve Chair Jerome Powell, who hinted at a limited chance of another rate cut in December. Powell said a rate cut in December was "far from" a foregone conclusion.

 

Mining giant Glencore is planning to shut down its Horne smelter due to environmental issues and the millions of dollars needed to upgrade the facility, Reuters reported. The shutdown of Horne would strengthen the forecast of global supply shortage after major mine disruptions in Indonesia and Chile.

 

At 1806 IST, on the MCX, the November futures contract of:
-–Aluminium was at INR 273.80 a kg, up 0.7%
–-Copper was steady at INR 1,011.40 a kg
–-LEAD was at INR 183.50 a kg, up 0.2%
–-ZINC was at INR 303.00 a kg, up 0.8%

--NICKEL was at INR 1,314.00 a kg, up 0.6%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 271.00-INR 275.00
--Copper contract seen at INR 1,002.00-INR 1,022.00
--Lead contract seen at INR 182.00-INR 185.00
--Zinc contract seen at INR 301.00-INR 305.00
--Nickel contract seen at INR 1,290.00-INR 1,322.00

End

 

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

 

Edited by Saji George Titus

 

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.