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Informist, Tuesday, May 19, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper edged lower on the Multi Commodity Exchange of India Tuesday, tracking a fall in contracts on the London Metal Exchange because of a rise in the dollar index. Market sentiment was also hurt due to weaker-than-expected Chinese economic data and higher crude oil prices, stoking concerns about inflation and global economic growth.

 

China's industrial production grew 4.1% on year in April, down from 5.7% in March, according to data from the National Bureau of Statistics. China's April retail sales rose 0.2% on year, down from 1.7% the previous month. "Rising US-Iran tensions continue to fuel fears of prolonged inflation and tighter global monetary policy, weighing on industrial demand sentiment," Kotak Securities said in a report.

 

ALUMINIUM rose due to supply risks from West Asia. "Near term, supply-side disruptions may continue supporting aluminium, zinc, and nickel, though macroeconomic uncertainty and slowing Chinese demand could keep broader base metal sentiment volatile and range-bound," the brokerage said.

 

NICKEL prices also rose amid tightening supply concerns. Media reports indicated around 10–15% of high-grade nickel pig iron capacity at Indonesia's Weda Bay Industrial Park could undergo rotational maintenance in the coming months, Kotak said.

 

At 1923 IST, on the MCX, the May futures contract of:

--Aluminium was at INR 385.00 a kg, up 1.0%
--COPPER was at INR 1,340.80 a kg, down 0.6%
–-LEAD was at INR 202.00 a kg, down 0.2%
–-ZINC was at INR 366.70 a kg, up 0.4%

 

The June futures contract of nickel was at INR 1,815.00 a kg, up 1.1%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 380.00-INR 388.00

--Copper contract seen at INR 1,330.00-INR 1,360.00
--Lead contract seen at INR 200.00-INR 205.00

--Zinc contract seen at INR 364.00-INR 371.00

--Nickel contract seen at INR 1,780.00-INR 1,830.00

End

 

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

 

Edited by Saji George Titus

 

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