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Informist, Thursday, May 14, 2026

By Ashutosh Pati

MUMBAI – Futures contracts of all base metals fell on the Multi Commodity Exchange of India Thursday, tracking a fall in contracts on the London Metal Exchange because of a sharp rise in the dollar index. Copper prices were further weighed down as traders resorted to booking profits after the sharp rally in prices this week, according to analysts.

COPPER prices have risen sharply this week due to supply risks. The disruption of sulphuric acid shipments from the Persian Gulf due to the war in the region has put at risk around 20% of global copper supply which is produced through acid-intensive solvent extraction and electrowinning processes, Daniel Hynes, senior commodity strategist at ANZ Research, said in a note. "Refined copper production fell 3% y/y to 1.05mt (million tonnes) in April," Hynes said.

Strong demand from China is also supporting prices. "Low inventories outside the US and ongoing disruptions across key producing regions leave prices increasingly sensitive to any incremental demand growth," ING analysts said in a report.

Copper prices appear to be driven more by supply concerns than underlying consumption. "Elevated oil prices and tight financial conditions are likely to continue weighing on demand, leaving copper vulnerable to a pullback should supply disruptions ease or arbitrage-driven flows normalise," they said.

At 1933 IST, on the MCX, the May futures contract of:

--ALUMINIUM was at INR 383.30 a kg, down 0.7%
--Copper was at INR 1,384.20 a kg, down 1.0%
–-LEAD was at INR 203.55 a kg, down 0.1%
–-ZINC was at INR 366.55 a kg, down 0.5%

--NICKEL was at INR 1,826.10 a kg, down 0.1%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 381.00-INR 387.00

--Copper contract seen at INR 1,380.00-INR 1,405.00
--Lead contract seen at INR 202.00-INR 207.00

--Zinc contract seen at INR 366.00-INR 372.00

--Nickel contract seen at INR 1,800.00-INR 1,860.00

End

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

Edited by Avishek Dutta

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