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Informist, Monday, Jun. 15, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of copper rose to a one-week high on the Multi Commodity Exchange Monday, as a US-Iran framework agreement to end their war and reopen the Strait of Hormuz eased energy-driven inflation fears and eased concerns about demand for the red base metal, analysts said. Market sentiment was also lifted by strong demand linked to renewable energy, electrification and artificial intelligence. The most active copper June futures contract on the MCX hit a one-week high of INR 1,349.50 per kilogram.  

 

The US and Iran said they had reached an agreement that would take effect on Friday. US President Donald Trump said the US was lifting its naval blockade on Iranian ports, and that the Strait of Hormuz would be reopened after the agreement was signed. Iran's deputy foreign minister said further talks would take place in Switzerland after a formal signing ceremony on Friday. "The deal, which includes plans to reopen the Strait of Hormuz, triggered a sharp decline in oil prices, reducing concerns about inflation and tighter monetary policy that could weaken industrial metal demand," analysts at Kedia Adviosry said. 

 

COPPER also remains supported by strong long-term demand linked to artificial intelligence, renewable energy, and electrification trends. "Market sentiment is further strengthened by uncertainty surrounding potential US import tariffs and expectations of persistent global supply deficits, with analysts projecting tight market conditions through the end of the decade," analysts said.

 

Market participants now await the US Federal Reserve's policy meeting on Wednesday, the first chaired by Kevin Warsh, for clues on whether policymakers will lean more hawkish after war-driven energy costs pushed US inflation higher. The Fed is widely expected to leave rates unchanged, but traders will focus on the policy statement, Warsh's press conference and updated rate projections for signs of how much concern officials have about persistent inflation, analysts said.

 

At 1613 IST, on the MCX, the June futures contract of:

--ALUMINIUM was at INR 363.85 a kg, down 3%
--Copper was at INR 1,337.95 a kg, up 0.2%
–-LEAD was at INR 204.60 a kg, down 0.2%
–-ZINC was at INR 366.80 a kg, up 0.5%

--NICKEL was at INR 1,681.1 a kg, up 1.1%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 362.00-INR 378.00

--Copper contract seen at INR 1,325.00-INR 1,345.00
--Lead contract seen at INR 203.00-INR 207.00

--Zinc contract seen at INR 364.00-INR 371.00

--Nickel contract seen at INR 1,670.00-INR 1,730.00

 

End

 

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

 

Edited by Avishek Dutta

 

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