Commodity Market Updates: Crude Oil Futures Fall Alongside Copper and Aluminum on MCX - Upstox

💡 Crude oil futures, copper, and aluminum prices declined on the Multi Commodity Exchange (MCX) in India, amidst a broader market downturn.

The commodity market witnessed a significant downturn on January 30, with crude oil futures, copper, and aluminum prices experiencing a sharp decline on the Multi Commodity Exchange (MCX) in India.

Crude Oil Futures Fall

Crude oil futures on the MCX fell by 1.4% to ₹3,934.50 per barrel, following a decline in global crude oil prices. The drop in crude oil prices can be attributed to increasing global crude oil supplies and a weaker-than-expected demand from major importers.

Copper Declines

Copper prices on the MCX also declined by 1.2% to ₹736.50 per kilogram, as investors remained cautious due to concerns over a potential economic slowdown. Copper prices have been under pressure in recent trading sessions, following a decline in global demand for the metal.

Aluminum Prices Drop

Aluminum prices on the MCX fell by 1.1% to ₹203.60 per kilogram, amidst a broader market downturn. The decline in aluminum prices can be attributed to a decline in global demand for the metal, as well as increasing supplies from major producers.

What It Means for Investors