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Informist, Wednesday, Jan. 14, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of most base metals rose on the Multi Commodity Exchange of India on Wednesday, tracking a rise in contracts on the London Metal Exchange because of a fall in the dollar index. COPPER prices also rose on concerns about supply and strong demand, according to analysts.

 

At 1909 IST, the dollar index, which measures the US dollar's strength against a basket of six currencies, was down 0.1% to 99.08. A weak dollar makes dollar-denominated commodities, such as base metals, cheaper for holders of other currencies, aiding demand.

 

"Fears of US tariffs have pulled material (copper) into American warehouses, tightening supply elsewhere, while weather disruptions and labour issues in key producing regions continue to limit mine output," Kotak Securities said in a report. Meanwhile, demand from clean energy, electric vehicles, and data-centre expansion remains robust.

 

On the data front, the US core CPI rose 0.2% on month and 2.6% on year in December, lower than analysts' expectations of 0.3% and 2.7%, respectively. The data cemented expectations that the US Federal Reserve will lower rates at least twice this year. "With expectations of easier monetary policy globally, the medium-term backdrop for base metals remains firmly supportive," Kotak said.

 

At 1911 IST, on the MCX, the January futures contract of:

--ALUMINIUM was at INR 319.05 a kg, up 0.2%
--COPPER was at INR 1,312.35 a kg, up 0.2%
–-LEAD was at INR 193.05 a kg, up 0.3%
–-ZINC was at INR 314.60 a kg, up 0.7%

 

The February futures contract of NICKEL was at INR 1,675.00 a kg, down 0.2%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 310.50-INR 328.40

--Copper contract seen at INR 1,256.20-INR 1,370.00
--Lead contract seen at INR 188.00-INR 197.80

--Zinc contract seen at INR 307.70-INR 321.50

--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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