More Stories

Informist, Wednesday, Jun. 10, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of base metals on the Multi Commodity exchange of India and the London Metal Exchange fell Wednesday as escalating tensions in West Asia and growing expectations of central bank interest rate hikes weighed on the demand outlook for industrial metals. Market participants await May Consumer Price Index data later in the day and the Producer Price Index reading on Thursday, to gauge the US Federal Reserve's monetary policy stance.

 

On Tuesday, the US launched strikes against Iran after US President Donald Trump said Tehran had shot down a US Apache helicopter in the Strait of Hormuz, deepening doubts over a potential peace deal and further straining the ongoing fragile ceasefire. The last round of clashes undermine peace efforts and fuel concerns about inflation and higher borrowing costs. 

 

However, the fall in COPPER prices is likely to be limited. "Despite the decline, underlying market fundamentals remained supportive, with tightening visible inventories outside the United States and ongoing concerns over global mine supply." analysts at Kedia Adviosry said. In China, warehouse stocks monitored by the Shanghai Futures Exchange fell 4% to 169,512 tonnes, the lowest level since December, highlighting strong domestic consumption, Kedia added. 

 

The fall in prices is also likely to be limited due to strong demand from China. "...a report saying that China plans to invest around 2 trillion yuan to build data centers over the next five years is providing a tailwind for metals demand," SMC Global Securities said in a report. Global spending on data-center infrastructure has been a key pillar in the bullish outlook for copper prices.

 

At 1630 IST, on the MCX, the June futures contract of:

--Aluminium was at INR 370.70 a kg, down 2%
--COPPER was at INR 1,313.00 a kg, down 1%
–-LEAD was at INR 203.75 a kg, down 0.6%
–-ZINC was at INR 360.50 a kg, down 1.4%

--NICKEL was at INR 1,714.10 a kg, down 2.5%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 368.00-INR 376.00

--Copper contract seen at INR 1,305.00-INR 1,330.00
--Lead contract seen at INR 202.00-INR 205.00

--Zinc contract seen at INR 368.00-INR 376.00

--Nickel contract seen at INR 1,700.00-INR 1,750.00

 

End

 

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

 

Edited by Deepshikha Bhardwaj

 

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.