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Informist, Tuesday, Jan. 27, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of most base metals rose on the Multi Commodity Exchange of India Tuesday, tracking a rise in contracts on the London Metal Exchange because of a weak dollar. COPPER prices rose, but the gains were capped by concerns about demand, analysts said. 

 

At 1853 IST, the dollar index, which measures the greenback's strength against a basket of six currencies, was down 0.4% at 96.63. A weak dollar makes dollar-denominated commodities, such as base metals, cheaper for holders of other currencies, aiding demand.

 

"Dollar weakness, driven by geopolitical uncertainty, renewed questions around Federal Reserve independence, and erratic US policy signals, including fresh tariff threats against South Korea, has offered some support (to copper), but not enough to offset near-term headwinds," Kotak Securities said in a report. "In China, activity has slowed ahead of the Lunar New Year, when inventories typically rise and buyers hold back in anticipation of softer prices," the brokerage said.

 

The focus of market participants is now shifting to the US Federal Reserve's interest rate decision this week, when the panel is widely expected to hold rates steady.

 

At 1823 IST, on the MCX, the February futures contract of:

--ALUMINIUM was at INR 319.45 a kg, up 0.4%
--COPPER was at INR 1,317.80 a kg, up 0.1%
–-LEAD was at INR 191.50 a kg, down 0.1%
–-ZINC was at INR 322.75 a kg, up 2.1%

--NICKEL was at INR 1,716.1 a kg, up 2.8%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 320.00-INR 325.00

--Copper contract seen at INR 1,300.00-INR 1,340.00
--Lead contract seen at INR 191.00-INR 193.00

--Zinc contract seen at INR 317.00-INR 327.00

--Nickel contract seen at INR 1,680.00-INR 1,780.00

End

 

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

 

Edited by Saji George Titus

 

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