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Informist, Tuesday, Jun. 9, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of copper on the Multi Commodity Exchange of India and the London Metal Exchange rose Tuesday because of strong economic data from China. Copper also drew support from easing West Asia tensions after Iran and Israel agreed to halt attacks against each other, analysts said.

 

COPPER prices rose due to strong trade data from top consumer China, which reinforced the demand outlook. Chinese exports jumped 19.4% to a record $376.8 billion in May, well above expectations, driven by strong demand for artificial intelligence technology and renewable energy products. Prices also rose owing to a fall in inventories at warehouses registered with the LME. Stocks in London Metal Exchange warehouses stood at 376,775 tonnes, down 6% over the past month, while a high level of cancelled warrants indicates that additional metal is likely to leave the exchange system, analysts at Kedia Adviosry said.

 

Copper prices also rose after Iran and Israel said on Monday they had halted attacks on each other after an appeal from US President Donald Trump. "However, investors remained cautious as the ceasefire remains fragile and could unravel if either side resumes military operations," SMC Global Securities said.

 

Meanwhile, Jefferies Group expects copper prices to remain stronger for longer than previously anticipated, citing an average annual supply deficit of 491,000 tonnes through 2030 and a delayed recovery at the Grasberg mine, Trading Economics reported.

 

At 1504 IST, on the MCX, the June futures contract of:

--ALUMINIUM was at INR 384.00 a kg, down 0.3%
--Copper was at INR 1,343.85 a kg, up 0.6%
–-LEAD was steady at INR 206.00 a kg
–-ZINC was at INR 369.40 a kg, up 1.2%

--NICKEL was at INR 1,770.00 a kg, down 0.3%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 382.00-INR 388.00

--Copper contract seen at INR 1,330.00-INR 1,355.00
--Lead contract seen at INR 204.00-INR 207.00

--Zinc contract seen at INR 365.00-INR 372.00

--Nickel contract seen at INR 1,730.00-INR 1,800.00

 

End

 

US$1 = INR 95.35

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

 

Edited by Avishek Dutta

 

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