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Informist, Tuesday, Jan. 20, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper fell on the Multi Commodity Exchange of India and the London Metal Exchange Tuesday because of concerns about demand from China, the top consumer of the metal. Market sentiment was also hurt by China's crackdown on high frequency trading, according to analysts.

 

"The Yangshan import premium, a key gauge of Chinese consumption, has halved over the past month to its lowest level since mid-2024, pointing to reduced buying interest after elevated prices," Kotak Securities said in a report.

 

"This (concern about demand) has been reinforced by a regulatory clampdown on high-frequency trading following a burst of speculative activity, while exchange-monitored inventories at an eight-year high have helped offset supply concerns," Dow Jones quoted analysts at Saxo Bank as saying. 

 

Moreover, US President Donald Trump's imposition of tariffs on European nations have heightened concerns about global growth and demand for metals. French President Emmanuel Macron said it is time to use the EU's "trade bazooka" for the first time, the BBC reported. This is the Anti-Coercion Instrument, which would allow Europe to hit back with counter-tariffs, restrict access to the single market, and block applications for lucrative EU contracts, furthering the trade war.

 

At 1822 IST, on the MCX, the January futures contract of:

--ALUMINIUM was at INR 315.65 a kg, down 0.6%
--COPPER was at INR 1,290.00 a kg, down 1.0%
–-LEAD was at INR 191.15 a kg, down 0.4%
–-ZINC was at INR 312.60 a kg, down 0.5%

 

The February futures contract of NICKEL was at INR 1,637.50 a kg, down 0.1%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 308.50-INR 322.00

--Copper contract seen at INR 1,247.20-INR 1,335.80
--Lead contract seen at INR 187.80-INR 194.50

--Zinc contract seen at INR 306.70-INR 318.80

--Nickel contract seen at INR 1,600.00-INR 1,660.00

End

 

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

 

Edited by Tanima Banerjee

 

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