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Informist, Friday, Apr. 10, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper rose on the Multi Commodity Exchange of India and the London Metal Exchange Friday on optimism that the ceasefire between the US and Iran would hold and lead to the reopening of the Strait of Hormuz, according to analysts. Market sentiment was also up on stronger demand signals from top consumer China.

 

"Copper is on track for a third weekly gain, supported by improved sentiment on expectations that the US–Iran ceasefire could lead to the reopening of the Strait of Hormuz, easing energy-driven inflation risks," Kotak Securities said in a report. Additional support is emerging from China, where stronger import premiums signal improving spot demand, it said.

 

However, the rise in COPPER prices was capped by rising inventories at LME warehouses. Stocks had risen to 385,275 tonnes as of Thursday, the highest level since March 2018. "...the rally appears largely sentiment-driven and remains fragile amid ongoing disruptions and geopolitical uncertainty. Elevated LME copper inventories indicate subdued underlying consumption, likely capping further upside," the brokerage added.

 

ALUMINIUM prices continued to be supported by supply constraints from West Asia, as several major smelters in the region have cut output due to the war.

 

At 1720 IST, on the MCX, the April futures contract of:

--Aluminium was at INR 356.60 a kg, up 0.7%
--Copper was at INR 1,204.30 a kg, up 1.0%
–-LEAD was at INR 193.10 a kg, down 0.7%
–-ZINC was at INR 331.35 a kg, up 0.2%

--NICKEL was at INR 1,625.00 a kg, down 0.2%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 352.00-INR 360.00

--Copper contract seen at INR 1,180.00-INR 1,220.00
--Lead contract seen at INR 192.00-INR 196.00

--Zinc contract seen at INR 325.00-INR 335.00

--Nickel contract seen at INR 1,620.00-INR 1,680.00

End

 

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

 

Edited by Ashish Shirke

 

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