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  5. Commodity Market Updates, Dec 24: Copper, Aluminium futures jump to all-time highs; Crude oil rises

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Commodity Market Updates, Dec 24: Copper, Aluminium futures jump to all-time highs; Crude oil rises

Upstox
By Upstox News Desk

3 min read | Updated on December 24, 2025, 14:40 IST

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SUMMARY

On the Multi-Commodity Exchange, crude oil for January delivery traded higher by ₹46 or 0.88% at ₹5,300 per barrel. Meanwhile, copper futures for January delivery surged as much as ₹28.6 or 2.48% to a fresh record high of ₹1,181.90 per kilogram.

commodity market

Globally, West Texas Intermediate crude was trading 0.17% higher at $58.48 per barrel. | Image: Shutterstock

Commodity market: Crude oil prices climbed in futures trade on the Multi-Commodity Exchange. Similarly, prices of industrial metals also increased. Furthermore, copper and aluminium futures touched fresh lifetime highs on Wednesday.
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Here is how different commodity futures were trading on December 24.

Crude oil futures

Crude oil prices on Wednesday, December 24, advanced by ₹46 to ₹5,300 per barrel in futures trade as participants increased their positions following firm spot demand. It also rose on the back of US-Venezuela tensions and US GDP data.

On the Multi-Commodity Exchange (MCX), crude oil for January delivery traded higher by ₹46 or 0.88% at ₹5,300 per barrel in 18,909 lots.

According to a PTI report, which quoted analysts, the rise of bets by participants kept crude oil prices higher in futures trade.

On Tuesday, the delayed US GDP data for the third quarter showed a 4.3% year-on-year (YoY) increase. Additionally, rising tensions between the US and Venezuela also supported crude oil prices, after Washington intensified its naval blockade of the region, seizing a second oil tanker on Saturday and pursuing a third.

Globally, West Texas Intermediate crude was trading 0.17% higher at $58.48 per barrel, while Brent crude rose 0.13% to $62.46 per barrel in New York.

Copper futures

Copper futures for January delivery surged as much as ₹28.6 or 2.48% to a fresh record high of ₹1,181.90 per kilogram on the MCX on Wednesday.

In the international market, Comex copper (for expiry in January) advanced to an intra-day high of $5.61 per pound.

Red metal prices have so far this year jumped as much as 49% to hit a record high of $5.95 per pound amid supply shortages.

As per a report by global investment bank JPMorgan, copper is likely to surge to $12,500 per million tonnes in the second half of 2026, ultimately averaging $12,075/mt for the full year.

Aluminium futures

On the MCX, aluminium futures for January delivery jumped as much as ₹2.15 or 0.75% to a fresh all-time high of ₹288.85 per kilogram.

Meanwhile, contracts for the February expiry were trading 60 paise or 0.21% highest at ₹290.90 per kilogram.

Zinc futures

Zinc prices climbed by ₹2.85 to ₹307.60 per kilogram in futures trade amid a pick-up in spot demand.

On the MCX, zinc contracts for January delivery traded higher by ₹2.85 or 0.94% to ₹307.60 per kilogram, with a business turnover of 1,409 lots.

Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries, kept zinc prices higher in the futures trade, according to a PTI report.
With inputs from PTI
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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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