More Stories

Informist, Monday, Nov. 17, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of most base metals edged lower on the Multi Commodity Exchange of India on Monday, tracking a fall in contracts on the London Metal Exchange because of a firm dollar. Market sentiment was also hurt by fading expectations of a rate cut by the US Federal Reserve in December and weak economic data from China.

 

At 1747 IST, the dollar index, which measures the greenback's strength against a basket of six currencies, was up 0.1% at 99.37. A stronger dollar makes dollar-denominated commodities, such as base metals, expensive for holders of other currencies, denting demand.

 

China's industrial output and retail sales in October 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. The country's value-added industrial output expanded 4.9% on year last month, 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.

 

Meanwhile, many US Federal Reserve officials voiced reservations over further rate cuts, citing worries about inflation and signs of relative stability in the labour market after two interest rate cuts this year. Fed fund futures traders are now pricing in only a 45% chance of a 25-basis-point cut at the US Federal Open Market Committee's December meeting, down from 62% a week ago, according to CME's FedWatch Tool.

 

Market participants are now waiting for a slew of economic data from the US this week, which was delayed due to the shutdown of the government. The US Bureau of Labor Statistics Friday said it would release September jobs data Thursday. The longest-ever US government shutdown, which ended Thursday, left a large gap in economic data ahead of next month's policy meeting.

 

At 1740 IST, on the MCX, the November futures contract of:
-–ALUMINIUM was at INR 269.30 a kg, down 0.4%
–-COPPER was at INR 1,004.00 a kg, down 0.4%
–-LEAD was at INR 183.05 a kg, down 0.3%
–-ZINC was at INR 303.80 a kg, up 0.2%

--NICKEL was at INR 1,284.20 a kg, down 0.8%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 267.00-INR 271.50
--Copper contract seen at INR 995.00-INR 1,008.00
--Lead contract seen at INR 182.00-INR 185.00
--Zinc contract seen at INR 298.00-INR 306.00
--Nickel contract seen at INR 1,270.00-INR 1,310.00

End

 

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

 

Edited by Nishant Maher

 

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.