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Informist, Monday, Jul. 6, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper on the Multi Commodity Exchange of India fell on Monday, tracking a decline in contracts on the London Metal Exchange because of a rise in the dollar index. However, the fall in prices was limited by a sharp decline in inventories at warehouses monitored by the Shanghai Futures Exchange.

 

At 1812 IST, the dollar index, which measures the greenback's strength against a basket of six currencies, was up 0.2% at 101.07. A stronger dollar makes dollar-denominated commodities such as base metals expensive for holders of other currencies, denting demand.

 

Meanwhile, copper inventories at Shanghai Futures Exchange-monitored warehouses fell 13,055 tonnes to 122,677 tonnes in the week ended Friday. Copper prices are expected to rise this week amid depleting supply. Copper production in Chile, the world's largest producer of the red metal, fell around 13% in May to 423,623 tonnes, according to media reports.

 

Market participants are now waiting for minutes of the US Federal Open Market Committee's recent meeting, slated to be released Wednesday. They are also awaiting a decision by the US Department of Commerce on possible tariffs on imports of refined copper.

 

At 1802 IST, on the MCX, the July futures contract of:

--ALUMINIUM was at INR 332.15 a kg, up 0.6%
--Copper was at INR 1,282.80 a kg, down 0.2%
–-LEAD was at INR 198.50 a kg, down 0.3%
–-ZINC was at INR 370.85 a kg, up 1.2%

--NICKEL was steady at INR 1,573.30 a kg 

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 330.00-INR 336.00

--Copper contract seen at INR 1,270.00-INR 1,300.00
--Lead contract seen at INR 198.00-INR 201.00

--Zinc contract seen at INR 366.00-INR 372.00

--Nickel contract seen at INR 1,540.00-INR 1,585.00

End

 

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

 

Edited by Avishek Dutta

 

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