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Informist, Friday, Nov. 14, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of all base metals on the Multi Commodity Exchange of India and the London Metal Exchange edged lower on Friday because of weak economic data from China. Market sentiment was also hurt due to fading expectations of an interest rate cut by the US Federal Reserve in December.

 

China's industrial output and retail sales grew at their slowest pace in more than a year, while home prices saw their steepest monthly drop since late 2024, and new loan issuance weakened amid a fragile property sector, Kotak Securities said in a report. China's value-added industrial output expanded 4.9% on year in October, according to data released by the National Bureau of Statistics. In the first 10 months of this year, China's industrial output increased by 6.1% on year.

 

"The pullback in copper came as China's October data showed clear signs of cooling," Kotak said. "Investors also stayed on the sidelines ahead of delayed US economic releases after the government's reopening, while fading expectations of a December Fed rate cut further weighed on risk appetite," it added.

 

Multiple Federal Reserve officials on Thursday expressed hesitation about further rate cuts, citing concerns about inflation and signs of relative stability in the labour market after two US interest rate cuts this year. San Francisco Fed President Mary Daly - who until now had been a strong supporter of the Fed's rate cuts - said any decision four weeks before the next policy meeting was "premature". "I have an open mind, but I haven't made a final decision on what I think, and I'm looking forward to debating with my colleagues," Daly said.

 

At 1853 IST, on the MCX, the November futures contract of:
-–ALUMINIUM was at INR 269.65 a kg, down 1.2%
–-Copper was at INR 1,005.10 a kg, down 0.9%
–-LEAD was at INR 183.40 a kg, down 0.4%
–-ZINC was at INR 302.40 a kg, down 1.1%

--NICKEL was at INR 1,306.00 a kg, down 1.0%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 268.20-INR 273.80
--Copper contract seen at INR 998.80-INR 1,024.20
--Lead contract seen at INR 182.00-INR 185.10
--Zinc contract seen at INR 298.00-INR 306.50
--Nickel contract seen at INR 1,292.00-INR 1,334.00

End

 

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

 

Edited by Saji George Titus

 

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