Patna: Copper prices rallied on Friday as volatility in gold and silver pushed market attention towards base metals, reinforcing signs of strengthening industrial demand. Analysts said firm spot consumption and increased participation in futures trading supported the upward move, even as precious metals continued to fluctuate.
On the Multi Commodity Exchange (MCX), copper futures for March delivery climbed Rs 16.60, or 1.37%, to close at Rs 1,223.90 per kg. Trading volumes stood at 16,912 lots, reflecting heightened activity during the session. Copper touched an intraday high of Rs 1,228 and a low of Rs 1,209.30 per kg, compared with the previous close of Rs 1,207.30.
Market participants attributed the rally to strong physical market demand and traders expanding their positions in the futures segment. The price movement suggests that industrial buyers are returning to the market, encouraged by stable consumption patterns in manufacturing and infrastructure-related sectors.
Aluminium prices also recorded gains. Futures for March delivery rose Rs 0.90, or 0.29%, to Rs 313 per kg, with 4,577 lots traded during the day. The metal hit a high of Rs 314.50 and a low of Rs 312 per kg, against the previous session’s close of Rs 312.10.
Analysts said rising demand from consumer industries and fresh speculative buying provided support to aluminium futures. The broader trend in base metals, they added, may reflect improving economic activity, particularly in construction, power and infrastructure segments where copper and aluminium remain critical inputs.
Commodity experts note that periods of instability in gold and silver often prompt investors to diversify into industrial metals. The recent firmness in copper and aluminium prices could therefore indicate not only portfolio adjustments but also growing confidence in underlying economic fundamentals.
