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Informist, Wednesday, Feb. 18, 2026

 

By Afra Abubacker

 

NEW DELHI – Futures contracts of most base metals traded higher on the Multi Commodity Exchange of India Wednesday, tracking gains in the London Metal Exchange. MCX copper inched up on lower-level buying after prices fell 4% in the previous session. 

 

At 1500 IST, the most-active February copper contract was trading over 1% higher at INR 1,162.95 a kg, after prices hit a two-month low of INR 1,140.35 on Tuesday. COPPER prices fell Tuesday as inventories at exchange-monitored warehouses climbed, easing supply concerns and pressuring prices. Stockpiles at LME-monitored warehouses climbed to an 11-month high of 221,625 tonnes after 9,975 tonnes were delivered to LME-registered warehouses in the US, South Korea, and Taiwan. In warehouses monitored by Shanghai Futures Exchange, stocks were at 272,475 tonnes, up 180% since late December, SMC Global Securities said. 

 

However, prices recovered Wednesday on bargain buying in thin trade as most Asian markets were shut for the Lunar New Year holidays. "It is the holiday season, so demand won't be that strong anyway. Some price recovery (in copper) on bargain buying is there today," Reuters quoted ANZ analyst Soni Kumari.

 

"With many Asian desks sidelined, liquidity will be patchy with most participants likely to be content to wait for clearer direction from US rates and a potential Chinese demand pulse in March's post-holiday trade," SMC Global Securities said in a report. Weak factory activities and subdued industrial demand at higher price levels have weakened spot premiums in China. 

 

At 1500 IST, on the MCX, the February futures contract of:

--Aluminium was at INR 305.25 a kg, up 0.4%
--Copper was at INR 1,162.95 a kg, up 1.1%
–-ZINC was at INR 320.15 a kg, up 0.3%

–-LEAD was at INR 186.8 a kg, down 0.1%

–-Nickel was at INR 1,485.1 a kg, down 1.3%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 300.20-INR 309.60

--Copper contract seen at INR 1,108.70- INR 1,214.10
--Lead contract seen at INR 186.00-INR 189.00

--Zinc contract seen at INR 316.90-INR 321.70

--Nickel contract seen at INR 1,450-INR 1,550

 

End

 

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

 

Edited by Vandana Hingorani

 

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