India Base Metals: All rise on subdued dollar amid thin trade

Informist, Monday, Dec 26, 2022


By Sandeep Sinha


MUMBAI – Futures contracts of base metals rose today on the Multi Commodity Exchange of India because of a subdued dollar and lack of fresh triggers.


* Trading volume is likely to be thin this today as the US market is closed today for Boxing Day, while the LME is shut today and Tuesday for the Christmas and Boxing Day holidays.


COPPER prices soared on low inventories at LME- and Shanghai Futures Exchange-registered warehouses. The sentiment was further supported by expectations of economic stimulus from top consumer China to revive growth.


* Traders increased long positions in copper on the domestic bourse by 228 lots, which also aided the prices.


* Investors will take cues from China industrial profits and US jobless claims and Chicago purchasing managers’ index, to be released later in the week.


ALUMINIUM prices recouped earlier losses and turned positive on the MCX as market participants increased their long positions in the January contract by 203 lots.


* At 1750 IST, on the MCX, the January futures contract of:

 –Aluminium was at 208.80 rupees a kg, up 0.3% 

 –Copper was at 724.65 rupees a kg, up 1.7%

 –LEAD was at 188.40 rupees a kg, up 0.2% 

 –ZINC was at 270.65 rupees a kg, up 0.5%


* Outlook for the evening session on the MCX:

 –Aluminium contract seen at 204.0-210.0 rupees a kg

 –Copper seen at 718.0-729.0 rupees a kg

 –Lead seen at 185.0-189.50 rupees a kg

 –Zinc seen at 267.0–272.0 rupees a kg




US$1 = 82.65 rupees

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


Edited by Aditya Sakorkar


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


© Informist Media Pvt. Ltd. 2022. All rights reserved.

Other News.

TREND: Real estate players scale back festive offers on high demand

Informist, Tuesday, Mar 28, 2023 By Shiladitya Pandit MUMBAI – The festival season usually sees real estate developers offering various incentives to home buyers, including direct discounts, flexible payment options, and freebies like gold coins, white goods, furniture and automobiles. This year, however, such sops are few as costs are rising and demand is already high. Lower levels of inventory have […]

Exim Bank to raise $3 bln from offshore market in FY24, says MD

Informist, Tuesday, Mar 28, 2023 MUMBAI – Export-Import Bank of India will look to raise around $3 bln from offshore market and 200-250-bln-rupee debt from domestic market in 2023-24 (Apr-Mar), Managing Director Harsha Bangari told reporters on sideline of International Conference on G20 Trade Finance Cooperation. The government-backed development finance institution regularly taps overseas and domestic bond markets for […]

FOCUS: Tweak in taxes on debt mutual funds may hit corporate bond mkt

Informist, Tuesday, Mar 28, 2023 By Subhana Shaikh MUMBAI – India's fledgling corporate bond market is likely to become an unintended casualty of the surprise announcement by the finance ministry to withdraw long-term capital gains tax benefit on debt mutual funds, industry players said. The move is likely to hit incremental inflows into debt funds, which are major […]