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Informist, Monday, Jan. 19, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of copper rose on the Multi Commodity Exchange of India and the London Metal Exchange Monday due to tightening supply conditions. Aluminium contracts also rose after China's production reached the government-mandated output cap.

 

COPPER availability at LME-registered warehouses fell by 22% to the lowest level in six months, due to continued stock movements to the US, where premiums remain attractive, ahead of potential tariff decisions, analysts said. 

 

"ALUMINIUM prices remained close to multi-year highs near $3,130/ton, underpinned by tight supply conditions after China's output effectively hit the government-mandated 45-million-ton capacity ceiling," Kotak Securities said in a report. China's limited ability to increase smelting capacity, combined with disruptions at overseas smelters, continues to underpin the aluminium market.

 

However, the price rise is likely to be capped due to growing concerns about demand in China, following weak economic data and the absence of benchmark interest rate cuts. "Sentiment was weighed down as China's new bank lending in 2025 slumped to a seven-year low, underscoring subdued borrowing appetite amid a prolonged property sector downturn," Kedia Advisory said. 

 

Additionally, China's tightened restrictions on high-frequency trading are likely to cap gains, Kotak said. China announced a crackdown on high-frequency trading as part of broader efforts to reduce risks in its capital markets.

 

At 1559 IST, on the MCX, the January futures contract of:

--Aluminium was at INR 318.10 a kg, up 0.5%
--Copper was at INR 1,301.00 a kg, up 0.9%
–-LEAD was at INR 191.90 a kg, up 0.3%
–-ZINC was at INR 313.85 a kg, up 0.3%

 

The February futures contract of NICKEL was at INR 1,656.90 a kg, up 1.7%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 315.00-INR 321.00

--Copper contract seen at INR 1,290.00-INR 1,310.00
--Lead contract seen at INR 190.00-INR 193.00

--Zinc contract seen at INR 311.00-INR 316.00

--Nickel contract seen at INR 1,620.00-INR 1,690.00

 

End

 

US$1 = INR 90.91

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

 

 

Edited by Saji George Titus

 

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