MCX copper futures declined 1.02% to Rs 1,185.85 per kg on Monday, Feb 17 (as of 11:34 AM IST), tracking weakness in global base metal prices and broader commodity volatility.
The decline comes amid cautious sentiment across industrial metals, with global markets witnessing profit-booking after recent gains. Weakness in precious metals such as silver has also weighed on the overall metals complex, contributing to a risk-off mood in commodity trading.
Copper, being closely linked to global economic growth expectations, remains sensitive to macroeconomic cues. Uncertainty ahead of key US economic data — including Federal Reserve minutes and the core PCE inflation reading — has kept traders cautious.
Additionally, thin liquidity in parts of Asia due to market holidays has amplified price movements across commodities, leading to sharper intraday swings on MCX.
Until clearer direction emerges from global macro data and currency movements, copper prices are likely to remain volatile and closely aligned with international market trends.