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Informist, Friday, Feb. 13, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of all base metals edged lower on the Multi Commodity Exchange of India Friday, tracking a fall in contracts on the London Metal Exchange because of a rise in the dollar index. COPPER prices faced additional pressure due to expectations of weak demand in China ahead of the Lunar New Year holidays, according to analysts.

 

"Base metals traded on a weaker note (on LME) on Friday, extending losses from the previous session amid heightened volatility across commodities and broader financial markets," Kotak Securities said in a report. ALUMINIUM and ZINC prices declined over 1% on the international bourse, while copper hovered near $12,809 per tonne as market sentiment remained cautious.

 

At 1716 1IST, the dollar index, which measures the greenback's strength against a basket of six currencies, was up 0.1% at 97.05. A stronger dollar makes dollar-denominated commodities, such as base metals, expensive for holders of other currencies, denting demand.

 

"Market focus has now shifted to the upcoming US inflation data, which could influence expectations around (US) Federal Reserve policy and near-term risk appetite," the brokerage said. Copper prices also faced headwinds from anticipated softer demand in China ahead of the Lunar New Year slowdown, it added.

 

However, the losses in aluminium were limited as a large Australian commodities company announced plans to close its aluminium smelter in Mozambique, which has an annual capacity of 580,000 tonnes. "... fears of shortages are high: according to market reports, a major aluminium consumer has decided to purchase large quantities (90 million pounds) on the spot market at short notice," analysts at Commerzbank AG said in a report. "The so-called US Midwest premium, which is paid for deliveries to the region, is at a record high," they said.

 

Aluminium, despite recent declines, continues to find support amid constrained global supply and persistent production challenges across key producing regions, Kotak said.

 

At 1706 IST, on the MCX, the February futures contract of:

--ALUMINIUM was at INR 304.80 a kg, down 0.9%
--Copper was at INR 1,191.5 a kg, down 1.2%
–-LEAD was at INR 187.45 a kg, down 0.2%
–-ZINC was at INR 320.50 a kg, down 0.9%

--NICKEL was at INR 1,515.00 a kg, down 1.9%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 297.40-INR 318.70

--Copper contract seen at INR 1,147.00-INR 1,268.40
--Lead contract seen at INR 183.80-INR 191.50

--Zinc contract seen at INR 310.30-INR 332.00

--Nickel contract seen at INR 1,500.00-INR 1,550.00

End

 

US$1 = INR 90.63

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

 

Edited by Saji George Titus

 

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