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Informist, Tuesday, Feb. 17, 2026

MUMBAI – The February futures contract of copper on the Multi Commodity Exchange opened lower at INR 1,193 per kg on Tuesday compared to the previous day's close of INR 1,198.05 due to profit booking. Demand was seen weakening at higher rates, some commentators observed.

Increasing inventories with exchange warehouses reflected softening demand for the metal. Combined stocks across the world's three major metal exchanges have crossed 1 million tonnes for the first time in over two decades, Kedia Advisory said in a note. This was largely due to soft demand in China and stockpiling in the US. "Spot premiums have turned into discounts, with the Yangshan premium hovering at historically low levels, signalling muted appetite for imports. Shanghai Futures Exchange inventories also rose 9.5% week-on-week," it said.

According to Nirmal Bang Commodity Research, copper prices are expected to correct Tuesday. It has recommended to sell at INR 1,192 per kg with a stop-loss of INR 1,205 for a target of INR 1,180-INR 1,170.

Geojit Commodity said that through the day, copper futures will be mostly choppy but the broad outlook remains positive as long as the level of INR 1,200 per kg holds.

At 1031 IST, the February copper futures contract on MCX was trading at INR 1,189.45 per kg.  End

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

Reported by Abhijit Doshi

Edited by Avishek Dutta

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