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Hans India
5 days ago
- Business
- Hans India
Gold futures fall on muted demand
Gold prices on Tuesday declined by Rs 264 to Rs 1,00,940 per 10 grams in futures trade amid muted spot demand. On the Multi-Commodity Exchange, gold contracts for October delivery depreciated Rs 264 or 0.26 per cent to Rs 1,00,940 per 10 grams in a business turnover of 14,861 lots. Analysts attributed the fall in yellow metal prices to weak global cues. In the international markets, gold futures fell 0.11 per cent to USD 3,369.98 per ounce in New York.
News18
31-07-2025
- Business
- News18
Copper futures plunge 4 pc to record low on US tariff announcement
Agency: PTI Last Updated: New Delhi, Jul 31 (PTI) Copper futures on the MCX slumped 4 per cent to touch a record low of Rs 861.70 per kilogram on Thursday after the US administration announced a steep 50 per cent tariff on imports of semi-finished copper and copper-based products, effective August 1. On the Multi-Commodity Exchange (MCX), the August contract of copper declined sharply by Rs 35.9 or 4 per cent to hit a record low of Rs 861.70 per kilogram. Subsequently, the September contract also fell by Rs 35.95 to touch a historic low of Rs 866.45 per kilogram on the commodities bourse. A White House executive order, dated July 30, said that copper is being imported into the US in quantities and under circumstances that threaten to impair national security. '…all imports of semi-finished copper products and intensive copper derivative products…shall be subject to a 50 per cent tariff. This tariff shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 am Eastern Daylight Time on August 1, 2025, and shall continue in effect, unless such action is expressly reduced, modified, or terminated," it said. Meanwhile, India exported copper products worth USD 360 million to the US in FY2025, including plates, tubes, and other semi-finished forms. These shipments will now be more expensive in the US. India is a net importer of copper, with imports totalling USD 14.45 billion in 2024-25, far outweighing its exports. Its main suppliers include Chile, Indonesia, and Australia. Notably, India also imported USD 288 million of copper scrap from the US, which may now become less viable due to disrupted bilateral copper flows. The impact of the US tariff was felt across the overseas markets, with copper futures on the Comex in the US plunging nearly 22 per cent to USD 4.38 a pound, marking the largest single-day decline on record. On the London Metal Exchange (LME), copper for October delivery decreased by 1.02 per cent to USD 9,698.50 a tonne. Analysts said the move by the US administration to impose tariffs on semi-finished copper products has introduced volatility in the market, with fears of disruption to trade flows and increased uncertainty in the industrial metals sector. Riya Singh, Research Analyst, Commodities and Currency, Emkay Global Financial Services, said the impact on India from the new US tariff is expected to be limited as exports of semi-finished copper products to the US were worth around USD 360 million in FY25, forming a small fraction of the country's total copper trade. Singh noted that India is a net importer of copper, sourcing mainly from countries like Chile and Indonesia, which are not directly affected by the US tariff. However, she pointed out that the global copper trade could face temporary disruptions. 'Internationally, the redirection of copper trade could temporarily ease global benchmark prices due to oversupply pressures elsewhere. In the medium term, supply chain realignments and a rise in geopolitical tensions may increase the risk premium on global copper prices," she said. Heena Naik, Research Analyst, Currency at Angel One, said copper prices, which had been on an uptrend, reversed course dramatically in just two days. Naik added that President Trump's earlier hints in February and July about possible tariffs had prompted a surge in shipments of copper products to the US, pushing premiums higher. 'This imposition of tariffs is likely to have a direct impact on neighbouring countries like Mexico and Canada and indirectly on China, which is the world's largest producer of copper products. It could also disrupt the global copper supply chain and price system," she said. According to Yash Sawant, Commodity Fundamental Analyst at Choice Broking, the tariff decision has caused copper to accumulate in US warehouses while tightening inventories elsewhere. 'This growing supply imbalance is already driving domestic premiums lower. The surplus in the US could lead to re-exports or a reduced import appetite for related copper products, potentially disrupting traditional trade routes and putting downward pressure on global premiums," Sawant added. PTI HG HG BAL BAL (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 31, 2025, 19:30 IST News agency-feeds Copper futures plunge 4 pc to record low on US tariff announcement Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
31-07-2025
- Business
- News18
Gold futures fall on muted demand
Agency: PTI Last Updated: New Delhi, Jul 31 (PTI) Gold prices on Thursday declined by Rs 123 to Rs 98,860 per 10 grams in futures trade amid muted spot demand. On the Multi-Commodity Exchange, gold contracts for October delivery depreciated Rs 123 or 0.12 per cent to Rs 98,860 per 10 grams in a business turnover of 12,207 lots. Analysts attributed the fall in yellow metal prices to weak global cues. In the international markets, gold futures rose 0.82 per cent to USD 3,302.15 per ounce in New York. PTI DR BAL BAL Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
31-07-2025
- Business
- News18
Silver futures fall Rs 1,839 to Rs 1,11,025/kg
Agency: PTI Last Updated: New Delhi, Jul 31 (PTI) Silver prices on Thursday declined by Rs 1,839 to Rs 1,11,025 per kilogram as participants reduced their bets. On the Multi-Commodity Exchange, silver contracts for September delivery fell Rs 1,839, or 1.63 per cent, to Rs 1,11,025 per kilogram in a business turnover of 16,633 lots. Analysts said a sell-off by participants at existing levels in the market weighed on silver prices. Globally, silver was trading 0.14 per cent lower at USD 36.99 per ounce in New York. PTI DR BAL BAL view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
