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Informist, Monday, May 25, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper rose on the Multi Commodity Exchange of India and the London Metal Exchange Monday as hope of a peace deal between the US and Iran improved market sentiment and eased concerns about slower global economic growth. Lower COPPER output from Chile this year and strong demand from artificial intelligence-led sectors also supported red metal prices.

 

Chile's state copper commission, Cochilco, expects the country's production of the red metal to fall by 2% to 5.3 million tonnes in 2026 due to lower ore grades, maintenance, and operational constraints.

 

"... on the demand front, growth of AI, clean energy and strategic stockpiles would be positive for the prices. Furthermore, prices may rally on growing optimism over a peace deal between the US and Iran," ICICI Direct said in a report. "If the deal is reached, it would reopen the Strait of Hormuz, easing concerns over inflation and further interest rate hikes," the report said.

 

The US and Iran are signalling progress in efforts to end hostilities, but crucial details of a framework agreement are still under negotiation, and a US official said it could take a few more days to finalise, CNN reported. US President Donald Trump has said a deal is close but that a US naval blockade on Iranian ports will remain in place during the ongoing talks, the report said.

 

Copper prices were also supported by hopes of higher demand from China, the world's largest consumer of the base metal. Copper is finding some support from a strong rally in computer chip manufacturers in Chinese stock markets, Daniel Hynes, senior commodity strategist at ANZ Research, said in a note. This led to hopes that demand for metals critical to the artificial intelligence investment boom would rise, he said.

 

At 1702 IST, on the MCX, the May futures contract of:

--ALUMINIUM was at INR 386.50 a kg, up 0.1%
--Copper was at INR 1,348.35 a kg, up 0.3%
–-LEAD was at INR 203.15 a kg, up 0.2%
–-ZINC was at INR 373.60 a kg, up 1.0%

 

The June futures contract of NICKEL was at INR 1,819.80 a kg, d%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 384.00-INR 390.00

--Copper contract seen at INR 1,335.00-INR 1,360.00
--Lead contract seen at INR 200.00-INR 206.00

--Zinc contract seen at INR 370.00-INR 376.00

--Nickel contract seen at INR 1,790.00-INR 1,840.00

End

 

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

 

Edited by Saji George Titus

 

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