More Stories

Informist, Tuesday, Feb. 17, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of all base metals on the Multi Commodity Exchange of India and the London Metal Exchange edged lower Tuesday amid thin trading volumes as most Asian markets were shut on account of the Lunar New Year holidays. COPPER prices were weighed down by rising inventories across major exchanges, according to analysts.

 

Readily available copper stocks on the LME rose again on Monday and when combined with inventories in Shanghai, London and New York, the total is now above 1 million tonnes, the highest since 2003, according to analysts at ING. "Rising exchange stocks underline the recent cooling in physical demand, particularly from China, where high prices and the seasonal holiday slowdown have curbed nearterm buying interest," they added.

 

ALUMINIUM prices were further weighed down after reports suggested US President Donald Trump may narrow the scope of upcoming import tariffs. "That headline continues to hang over sentiment, adding another layer of uncertainty to the broader metals complex," the analysts said.

 

Market participants are now waiting for the release of minutes of the US Federal Reserve's January meeting, on Wednesday, for more cues on the central bank's rate-cut path.

 

At 1549 IST, on the MCX, the February futures contract of:

--Aluminium was at INR 307.10 a kg, down 0.2%
--Copper was at INR 1,173.00 a kg, down 2.1%
–-LEAD was at INR 187.15 a kg, down 0.4%
–-ZINC was at INR 319.60 a kg, down 0.5%

 

The March futures contract of NICKEL was at INR 1,520.20 a kg, down 0.5%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 305.00-INR 310.00

--Copper contract seen at INR 1,160.00-INR 1,200.00
--Lead contract seen at INR 186.00-INR 188.00

--Zinc contract seen at INR 317.00-INR 322.00

--Nickel contract seen at INR 1,480.00-INR 1,525.00

End

 

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

 

Edited by Akul Nishant Akhoury

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.