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Informist, Thursday, Dec. 18, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of most base metals edged lower on the Multi Commodity Exchange of India Thursday, tracking a fall in contracts on the London Metal Exchange because of a firmer dollar. Market participants remain cautious ahead of the release of US CPI data later in the day, which are expected to offer cues to the US Federal Reserve's interest rate trajectory.

 

At 1655 IST, the dollar index, which measures the greenback's strength against a basket of six currencies, was up 0.1% at 98.51. A stronger dollar makes dollar-denominated commodities, such as base metals, expensive for holders of other currencies, denting demand.

 

Federal Reserve Governor Christopher Waller said Wednesday that the US central bank still has room to cut interest rates amid rising job market weakness. Waller's comments came amid expectations that he is to be interviewed as a potential replacement for Fed Chair Jerome Powell.

 

However, the fall in COPPER prices was limited by firm demand from China and the US. "Copper demand has been relatively strong, with China's imports elevated. Demand in the US is also expected to pick up amid an AI-related (artificial intelligence-related) investment boom," Daniel Hynes, senior commodity strategist at ANZ Research, said in a note.

 

At 1653 IST, on the MCX, the December futures contract of:
-–ALUMINIUM was at INR 281.05 a kg, down 0.2%
--Copper was at INR 1,111.90 a kg, down 0.1%
–-LEAD was steady at INR 180.65 a kg
–-ZINC was at INR 302.50 a kg, down 0.6%

 

The January futures contract of NICKEL was at INR 1,302.00 a kg, up 0.5%.

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 279.00-INR 283.00
--Copper contract seen at INR 1,102.00-INR 1,120.00
--Lead contract seen at INR 179.00-INR 182.00
--Zinc contract seen at INR 301.00-INR 304.00

--Nickel contract seen at INR 1,290.00-INR 1,325.00

 

End

 

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

 

Edited by Rajeev Pai

 

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