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Informist, Tuesday, Jan. 13, 2026

By Ashutosh Pati

MUMBAI – Futures contracts of most base metals edged lower on the Multi Commodity Exchange of India and the London Metal Exchange Tuesday as traders took profits after the recent surge in prices, analysts said. Market participants are awaiting the US consumer price index data later in the day for further cues on the US Federal Reserve's monetary policy path this year.

"Base metals are trading on a mixed footing as the market consolidates after a strong start to 2026...," Kotak Securities said in a report. However, losses in COPPER were limited as concern over potential US tariffs on the metal continued to draw it into American warehouses, tightening availability elsewhere.

Copper stocks on the LME are falling again after a temporary recovery following the introduction of US tariffs. "This is because the tariffs initially only applied to semi-finished copper products and derivatives," Thu Lan Nguyen, head of FX and commodity research at Commerzbank, said in a report. "However, there are now apparent fears that the tariffs will be extended to refined copper after all, which is why US companies seem to be rebuilding or further expanding their copper stocks," Nguyen said.

At 1733 IST, on the MCX, the January futures contract of:

--ALUMINIUM was at INR 316.10 a kg, down 0.4%
--COPPER was at INR 1,312.30 a kg, down 0.2%
–-LEAD was at INR 192.70 a kg, down 0.2%
–-ZINC was at INR 313.85 a kg, up 0.4%

--NICKEL was at INR 1,654.00 a kg, down 1.8%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 305.50-INR 325.90

--Copper contract seen at INR 1,243.20-INR 1,369.20
--Lead contract seen at INR 186.40-INR 197.80

--Zinc contract seen at INR 306.00-INR 320.30

--Nickel contract seen at INR 1,600.00-INR 1,700.00

End

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

Edited by Saji George Titus

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