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Informist, Friday, Mar. 27, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of most base metals on the Multi Commodity Exchange of India and the London Metal Exchange rose Friday due to improved sentiment around a potential resolution in West Asia after US President Donald Trump extended the pause in attacks on Iran's energy infrastructure for 10 days till Apr. 6. Copper prices drew additional support from signs of a recovery in demand in China, according to analysts.

 

"Base metals are trading on a mixed footing (on LME), with copper showing resilience while aluminium underperforms. Copper is on track for its first weekly gain since the escalation of the Middle East (West Asia) conflict, supported by improved sentiment around potential U.S.-Iran diplomacy," Kotak Securities said in a report.

 

"As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 PM, Eastern Time," Trump said in a post on Truth Social on Friday. "Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well," he added.

 

"Copper is seeing early signs of demand recovery in China, with recent price declines triggering a drawdown in inventories, indicating price-sensitive buying," Kotak said. Aluminium prices remain supported by supply tightness in the Persian Gulf, it added.

 

Copper stocks at warehouses monitored by the Shanghai Futures Exchange fell 51,986 tonnes on week to 359,135 tonnes in the week ended Friday while aluminium stocks rose 2,527 tonnes to 454,571 tonnes. Zinc inventories fell 3,436 tonnes to 148,830 tonnes and lead stocks fell 8,531 tonnes to 57,579 tonnes in the week ended Friday.

 

Most industrial metals have fallen this month as uncertainty around US-Iran negotiations and the prolonged conflict – now approaching a one-month mark – keeps risk sentiment fragile, analysts at ING Economics said in a report. "Heightened geopolitical tensions have raised concerns about inflation while also reinforcing fears of slowing industrial activity globally, weighing on demand expectations," they said.

 

At 1645 IST, on the MCX, the April futures contract of:

--ALUMINIUM was steady at INR 336.30 a kg
--Copper was at INR 1,147.25 a kg, up 0.7%
–-LEAD was at INR 193.10 a kg, up 0.3%
–-ZINC was at INR 311.90 a kg, up 0.7%

--NICKEL was at INR 1,607.10 a kg, up 0.6%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 334.00-INR 340.00

--Copper contract seen at INR 1,140.00-INR 1,160.00
--Lead contract seen at INR 192.00-INR 195.00

--Zinc contract seen at INR 310.00-INR 314.00

--Nickel contract seen at INR 1,580.00-INR 1,640.00

End

 

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

 

Edited by Deepshikha Bhardwaj

 

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