Copper Prices Fluctuate Ahead of August Expiry on MCX

Copper futures on the Multi Commodity Exchange (MCX) are experiencing volatility as traders prepare for the August expiry of the September contract. The price has been hovering around ₹1,400, a level that analysts consider a significant technical barrier.

From a technical perspective, the price action has shown resilience around the ₹1,365 support level, which aligns with the 21-day moving average. Some market analysts suggest that if the September contract sustains its position above ₹1,400, it could test higher objectives near ₹1,440.

However, the fundamental picture remains cautious due to muted industrial demand within the domestic market. Copper is a key industrial metal, and its price is sensitive to manufacturing activity and construction demand.