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Informist, Tuesday, Dec. 9, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of copper fell on the Multi Commodity Exchange of India and the London Metal Exchange on Tuesday because of profit booking, after prices hit record highs in the previous session, analysts said. In the previous session, copper prices hit a record high due to weaker dollar amid rising hope of a rate cut by the US Federal Reserve Thursday, along with growing concerns about supply.

 

The fall in prices Tuesday was limited as the market expects a rate cut by the Fed, analysts said. According to the CME's FedWatch tool, 87.4% of Fed fund futures traders are pricing in a 25-basis-point rate cut while 12.6% of traders anticipate a status quo. Typically, lower borrowing costs boost construction and manufacturing activities, aiding demand for COPPER.

 

Market participants also await Fed Chair Jerome Powell's remarks for cues on future monetary policy action, said Manoj Jain, director, Prithvi Finmart Pvt. Ltd. Meanwhile, Citigroup has raised its copper price forecast due to firm demand and tightening supply conditions. Prices will continue to rise in the first quarter of next year and reach an average of $13,000 per tonne in the second quarter of 2026, it said. Additionally, inventories on the Shanghai Futures Exchange fell 9.2% to 88,905 tonnes, reinforcing expectations of supply tightness.

 

At 1630 IST, on the MCX, the December futures contract of:
-–ALUMINIUM was at INR 276.05 a kg, down 0.8%
--Copper was at INR 1,086.25 a kg, down 1%
–-LEAD was at INR 181.65 a kg, down 0.4%
–-ZINC was at INR 311.75 a kg, down 0.7%

--NICKEL was at INR 1,304.20 a kg, down 3%.

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 273.00-INR 278.00 
--Copper contract seen at INR 1,070.00-INR 1,094.00 
--Lead contract seen at INR 180.00-INR 183.00 
--Zinc contract seen at INR 308.00-INR 313.00 

--Nickel contract seen at INR 1,310.00-INR 1,350.00 

 

End

 

US$1 = INR 89.87

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

 

Edited by Subhojit Sarkar

 

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