More Stories

Informist, Friday, Feb. 27, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of all base metals on the Multi Commodity Exchange of India and the London Metal Exchange rose Friday after the politburo of the Communist Party of China signalled measures to boost consumption and a more proactive fiscal policy, according to analysts. Market participants will now focus on China's upcoming 'Two Sessions' for cues on demand in the country.

 

China stressed the need for more proactive and effective economic policies and better policy coordination, according to the ruling party's top decision-making body, Reuters reported Friday, citing the country's state news agency Xinhua. The politburo called for continuing a more proactive fiscal policy and a moderately accommodative monetary policy, as per the report. Efforts to stabilise employment, enterprises, and markets, as well as build a robust domestic market were also discussed. 

 

COPPER prices extended their recent rally after the politburo meeting. Kotak Securities said the gains were limited as underlying physical demand in China remains subdued after the Lunar New Year holidays.

 

Rising inventories across exchanges also capped the rise in prices of the red metal. Copper stocks at warehouses registered with the Shanghai Futures Exchange rose 44% to 391,529 tonnes in the week ended Friday, the highest since 2016 and the 11th straight week of increase. "...LME stocks climbed to 253,600 tons, the highest since March last year," Kotak Securities said.

 

Prices of base metals have risen this week with the US imposing a new global baseline tariff of 10%. After the US Supreme Court struck down most tariffs imposed by President Donald Trump in 2025, he imposed the baseline 10% tariff on all imports for 150 days, effective Tuesday. He has also threatened to raise the baseline tariff to 15% but has yet to actually do so.

 

"This provides relief for trading partners in Asia, especially for markets important for base metals such as China and India, whose tariffs were previously significantly higher. Accordingly, base metal prices rose," analysts at Commerzbank said in a report. However, they see limited further upside potential for metals in the short term.

 

"...it remains to be seen whether this positive sentiment will also be reflected in improved economic performance in these countries, which is why we consider the further upside potential for base metal prices to be limited in the short term. Next week's purchasing managers' indices from China for February are likely to reflect at least a subdued mood among companies," the analysts said.  

 

At 1650 IST, on the MCX, the March futures contract of:

--ALUMINIUM was at INR 313.85 a kg, up 0.6%
--Copper was at INR 1,223.00 a kg, up 1.3%
–-LEAD was at INR 189.60 a kg, up 0.1%
–-ZINC was at INR 328.25 a kg, up 0.4%

--NICKEL was at INR 1,609.10 a kg, up 0.7%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 308.60-INR 319.00

--Copper contract seen at INR 1,186.30-INR 1,256.20
--Lead contract seen at INR 187.40-INR 191.70

--Zinc contract seen at INR 321.90-INR 334.30

--Nickel contract seen at INR 1,560.00-INR 1,640.00

 

End

 

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

 

Edited by Rajeev Pai

 

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.