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Informist, Wednesday, Feb. 25, 2026

By Ashutosh Pati

MUMBAI – Futures contracts of most base metals rose on the Multi Commodity Exchange of India on Wednesday, tracking a rise in contracts on the London Metal Exchange because of a weak dollar. Market sentiment was also lifted by fresh policy measures by China to stabilise the country's prolonged property downturn, according to analysts.

China has relaxed rules for buying a house, allowing non-residents who have paid social security contributions or individual income tax for one year to purchase homes in urban districts, down from the previous three-year requirement, Kotak Securities said in a report. The changes take effect Thursday.

Sentiment was also buoyed as Chinese markets reopened Tuesday after the long Lunar New Year holidays. "Together with post-holiday reopening momentum and expectations of stronger physical demand, these measures have underpinned metal prices this week, with firmer consumption prospects potentially accelerating inventory drawdowns in the coming months and helping absorb the recent build-up in stocks," Kotak Securities said.

Meanwhile, concerns around US tariffs also weighed on the dollar. After the US Supreme Court struck down most tariffs imposed by him in 2025, President Donald Trump imposed a baseline 10% tariff on all US imports for 150 days which came into effect Tuesday. Trump also threatened to raise the baseline tariff to 15%, but is yet to sign an executive order to implement the higher rate.

"The less punitive charges should be a boost for the country's metal intensive exports," Daniel Hynes, senior commodity strategist at ANZ Research, said in a note.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, fell to a low of 97.64 on Wednesday, from 97.88 Tuesday and 97.70 Monday.

At 1805 IST, on the MCX, the March futures contract of:

--ALUMINIUM was at INR 310.40 a kg, up 0.2%
--Copper was at INR 1,206.55 a kg, up 0.6%
–-LEAD was at INR 189.30 a kg, up 0.2%
–-ZINC was steady at INR 328.10 a kg

--NICKEL was at INR 1,598.00 a kg, up 0.3%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 308.00-INR 312.00

--Copper contract seen at INR 1,190.00-INR 1,220.00
--Lead contract seen at INR 187.00-INR 191.00

--Zinc contract seen at INR 325.00-INR 331.00

--Nickel contract seen at INR 1,580.00-INR 1,620.00

End

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

Edited by Ashish Shirke

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