More Stories

Informist, Wednesday, Dec. 31, 2025

 

By Afra Abubacker

 

NEW DELHI - Futures contracts of copper fell on Wednesday on the Multi Commodity Exchange of India, tracking losses in global benchmark prices as the dollar strengthened and investors booked profit after prices hit a record high earlier this week. Prices pulled back amid thin year-end liquidity after the recent rally.

 

At 1829 IST, the January COPPER contract on MCX was down 4.2% at INR 1,281.50 per kilogram. On Monday, the contract had hit a record high of INR 1,392.95 per kg. Benchmark copper prices were down 2% on COMEX and 1.4% on LME. 

 

"Base metals traded on a softer note in the final session of 2025, with copper leading losses...as year-end profit-taking set in after an exceptional rally," Kotak Securities said in a note. 

 

Copper prices pulled back after the recent rally driven by concerns of tight supply and strong demand from the energy transition and Artificial Intelligence-linked infrastructure. "We've seen a counter-reaction in recent days following what happened over 2025, with dollar strength after this year's weakness and copper retreating from recent highs," Reuters quoted Dan Smith, managing director at Commodity Market Analytics.

 

In addition, trade uncertainty and US tariff risks encouraged pre-emptive stockpiling. Copper inventories have surged at COMEX warehouses amid tariff uncertainties. "I expect the inflows to continue in the near term. I don't see a reversal anytime soon, as these flows are largely driven by arbitrage and remain subject to US policy, which is difficult to predict," Smith said.

 

Despite the decline in prices on Wednesday, copper remains only slightly below the record highs. The red metal has risen over 60% on year on MCX and over 40% on year on LME, and is set to rise higher next year amid structural tight supply and firm demand. "Despite the pullback, copper is poised to log its strongest annual gain since 2009," Kotak Securities said. 

 

Copper prices are expected to be high in the medium term amid mine disruptions, including temporary outages at the Grasberg mine and improved Chinese demand. "Adding to the constructive backdrop, Xi Jinping's reaffirmation of China's near 5% growth target and improving manufacturing data underscore resilience on the demand side, keeping the medium-term bias constructive despite near-term consolidation," it added. 

 

At 1829 IST, on the MCX, the January futures contract of:
-–ALUMINIUM was at INR 297.50 a kg, down 0.5%
--Copper was at INR 1,281.50 a kg, down 4.2% 
–-LEAD was at INR 182.70 a kg, down 0.4%
–-ZINC was at INR 306.40 a kg, down 1%

--NICKEL was at INR 1,600 a kg, up 0.5%.

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 291.5-INR 301.5

--Copper contract seen at INR 1,237.4-INR 1,327.60
--Lead contract seen at INR 182.20-INR 183.90

--Zinc contract seen at INR 302.20-INR 310.80

--Nickel contract seen at INR 1,540.00-INR 1,620.00

 

End

 

Edited by Vandana Hingorani

 

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.