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Informist, Wednesday, Jun. 17, 2026

By Reshma Ravi

MUMBAI – Futures contracts of copper rose on the Multi Commodity Exchange of India Wednesday due to strong demand linked to artificial intelligence-driven data center expansion. Market sentiment was also lifted due to tightening supplies outside the US amid concern around potential US tariffs on refined copper. However, the gains in prices are likely to be capped as market participants cautiously await the US Federal Reserve's first policy decision under new chair Kevin Warsh.

"Copper demand is likely to be supported by AI-driven data center expansion. Copper remains essential for power delivery and short-distance interconnections, while rising power demand further supports grid-related usage," Dow Jones quoted analysts at BofA Securities research note. Coupled with ongoing supply constraints, BofA expects continued support for copper demand and pricing, analysts said.

COPPER prices also rose due to concern about US import tariffs and a persistent decline in inventory at London Metal Exchange registered warehouses. Continued speculation regarding potential US tariffs on refined copper has created a premium for the metal in the US, encouraging imports and tightening supply availability in other regions, analysts at Kedia Advisory said.

The price also rose as market sentiment improved after the US and Iran reached a preliminary agreement aimed at ending the conflict and reopening the Strait of Hormuz. "The resulting decline in oil prices eased concerns about inflation and aggressive monetary tightening, providing some support to industrial metals," analysts said.

Meanwhile, "We forecast the global copper market to move into a deficit of around 35kt (35,000 tonnes) in 2026, reflecting mine supply losses across Indonesia, Chile, the Democratic Republic of the Congo and Zambia, alongside disruptions to Middle Eastern sulphur flows and sustained end-use demand in electrification and grid infrastructure," Ewa Manthey, analysts at ING said in a report.

At 1650 IST, on the MCX, the June futures contract of:

--ALUMINIUM was at INR 360.30 a kg, up 0.8%
--Copper was at INR 1,339.10 a kg, up 0.1%
–-LEAD was at INR 205.05 a kg, up 0.2%
–-ZINC was at INR 371.15 a kg, up 1.4%

--NICKEL was at INR 1,630.00 a kg, down 3.3%

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 356.00-INR 375.00

--Copper contract seen at INR 1,325.00-INR 1,350.00
--Lead contract seen at INR 204.00-INR 206.00

--Zinc contract seen at INR 367.00-INR 373.00

--Nickel contract seen at INR 1,600.00-INR 1,750.00

End

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

Edited by Akul Nishant Akhoury

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