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Informist, Tuesday, Jun. 16, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of copper fell on the Multi Commodity Exchange of India Tuesday due to profit-booking after prices rose to a one-week high in the previous session. Prices also fell as details about the US-Iran peace deal remained unclear, with neither side disclosing the terms discussed in the framework of the deal.

 

COPPER prices fell on Tuesday due to profit-booking after prices rose to a one-week high in the previous session, analysts at Kedia Advisory said. On Monday, the most active copper June futures contract on the MCX hit a one-week high of INR 1,349.50 per kilogram.  

 

Market sentiment was also hurt as market participants cautiously awaited details of the US-Iran peace deal, analysts added. The US and Iran have signed a framework agreement, ending their months-long war, but neither side had published the full text of the deal and on Monday, American and Iranian officials continued to make conflicting statements about its terms, The New York Post reported.

 

The framework agreement upon appears to contain two parts — terms for an immediate 60-day ceasefire, and plans for negotiations in that time on a long-term peace deal. But when it comes to what is, or might be, in each of those categories, little has been revealed so far. The text of the short-term agreement hasn't been released yet, and the long-term one doesn't exist yet, The New York Post reported.

 

Copper prices also fell due to weak Chinese retail sales data, analysts said. Retail sales, a gauge of consumption, declined in May for the first time since December 2022, dropping 0.6% from a year earlier, according to the National Bureau of Statistics on Tuesday.

 

However, the fall in prices could be limited. "Support came from ongoing speculation regarding potential US import tariffs on refined copper, which has created a premium for US metal and tightened supplies in other regions as inventories continue to flow into the American market," analysts said. 

 

At 1547 IST, on the MCX, the June futures contract of:

--ALUMINIUM was at INR 354.40 a kg, down 0.7%
--Copper was at INR 1,334.85 a kg, down 0.4%
–-LEAD was at INR 204.05 a kg, down 0.4%
–-ZINC was at INR 366.00 a kg, down 1.1%

--NICKEL was at INR 1,685.00 a kg, down 0.2%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 352.00-INR 361.00

--Copper contract seen at INR 1,325.00-INR 1,345.00
--Lead contract seen at INR 203.00-INR 205.50

--Zinc contract seen at INR 364.00-INR 371.00

--Nickel contract seen at INR 1,670.00-INR 1,720.00

 

End

 

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

 

Edited by Avishek Dutta

 

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