More Stories

Informist, Friday, May 15, 2026

By Ashutosh Pati

MUMBAI – Futures contracts of all base metals plunged on the Multi Commodity Exchange of India Friday, tracking a sharp fall in contracts on the London Metal Exchange because of a sharp rise in the dollar index. Market sentiment was also weighed down by fading hopes of a peace deal between the US and Iran, which has led to a significant jump in crude oil prices, raising concerns about inflation and global economic growth.

Stronger-than-expected US economic data boosted the dollar and raised expectations of an interest rate hike by the US Federal Reserve this year. Data on Thursday showed that US retail sales increased further in April while weekly initial jobless claims figures showed stability in the labour market.

"Following the significantly higher-than-expected US producer price data for April, the market now anticipates interest rate hikes by the US Federal Reserve," Carsten Fritsch, commodity analyst at Commerzbank AG, said in a report. "A 15-basis-point rise in US key interest rates is priced in by the end of the year, and a full 25-basis-point rate hike by March 2027."

Weakening buying interest from China also weighed on COPPER prices. "Although the Trump-Xi summit offered some optimism on trade relations, the absence of a durable Iran resolution and persistent inflation risks continue to weigh on industrial metals sentiment," according to Kotak Securities. "Near-term bias remains cautious as tighter monetary expectations and softer Chinese demand cap upside momentum despite ongoing supply-side risks," the brokerage said.

At 1919 IST, on the MCX, the May futures contract of:

--ALUMINIUM was at INR 378.25 a kg, down 1.9%
--Copper was at INR 1,337.15 a kg, down 3.5%
–-LEAD was at INR 201.90 a kg, down 0.8%
–-ZINC was at INR 362.00 a kg, down 1.5%

The June futures contract of NICKEL was at INR 1,793.10 a kg, down 2.6%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 375.00-INR 385.00

--Copper contract seen at INR 1,330.00-INR 1,365.00
--Lead contract seen at INR 200.00-INR 205.00

--Zinc contract seen at INR 361.00-INR 368.00

--Nickel contract seen at INR 1,760.00-INR 1,840.00

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.