The MCX copper lot size is 2,500 kg (2.5 tonnes), which is the fixed quantity of copper in one MCX copper futures contract. Copper is quoted in rupees per kg, so a ₹1 move changes the value of one lot by ₹2,500.
Quick answer: copper lot size in MCX
One lot of MCX Copper (COPPER) is 2,500 kg, or 2.5 tonnes.
Copper is quoted per kg, so a ₹1 move changes one futures lot by ₹2,500.
The futures tick, which is the smallest price step, is ₹0.05 per kg and is worth ₹125 per lot.
Copper options have the same 2,500 kg lot as the futures.
MCX’s copper specifications list no Copper Mini contract.
Plan your next MCX trade before you place it. Sign up free on AlgoTest to estimate margins and test strategies on MCX crude oil, gold, silver and natural gas.
MCX Copper Futures Specifications
The ₹1,350 per kg price is an example, not a live quote. Source: MCX copper futures contract specification. For other commodities, see our full MCX lot size table.
Copper is MCX’s most traded base metal, with about 7.7% of futures turnover in Q1 FY27. Our guide to the best commodities to trade in India compares it with gold, silver, crude oil and natural gas.
How to Calculate the Value of 1 Lot of Copper
Multiply the price per kg by 2,500.
At ₹1,350 per kg, one copper lot is worth ₹1,350 × 2,500 = ₹33,75,000.
If copper rises by ₹10 per kg, a long futures lot gains ₹25,000. A ₹10 fall causes the same loss.
A one-tick move of ₹0.05 per kg changes one futures lot by ₹125.
This is the full contract value, not the money you pay to open a trade. The next section explains margin.
How Much Margin Is Required for One Copper Lot?
MCX sets the initial margin for copper futures at the higher of 8% of contract value or the SPAN-based margin, plus an extreme loss margin of at least 1%. MCX can add further margins when volatility rises.
As an illustration, at a contract value of ₹33,75,000, 8% plus 1% comes to ₹3,03,750. This is not a current broker quote, and your broker may ask for more.
Margin changes with the price, volatility and exchange rules, so the amount on any given day can differ.
Margin is not your maximum loss. A ₹50 per kg move against you costs ₹1,25,000 on one lot, and losses can go beyond the margin you deposited.
If you hold eligible shares or funds, you may be able to pledge them as collateral. Haircuts apply, part of the margin may need to be in cash, and broker rules vary.
Our guide to the AlgoTest margin calculator explains how margin is worked out.
How much does one copper lot need today? Check the estimated margin in the AlgoTest margin calculator, then confirm the requirement with your broker.
Is Copper Mini Available on MCX?
As of 27 October 2026, MCX’s copper specifications list only the standard 2,500 kg contract size and no Copper Mini. If you see a 250 kg Copper Mini on other websites, check MCX’s current contract list before relying on it.
In November 2024, MCX’s head of base metals said the exchange had no plan to launch a Copper Mini. He cited SEBI’s rule that trading and delivery units must match.
MCX does offer mini contracts for three other base metals: Zinc Mini, Aluminium Mini and Lead Mini, each with a 1 tonne lot, launched in February 2023.
MCX Copper Options Lot Size
MCX launched India’s first copper options in May 2018. Copper options are options on copper futures, and one option lot covers 2,500 kg, the same as the futures.
Option premiums are quoted per kg. If a copper call trades at ₹15 per kg, one lot costs ₹15 × 2,500 = ₹37,500, plus charges.
Option P&L follows the change in the premium, not the copper price one to one.
Copper options expire three business days before the underlying futures’ tender period begins, so they do not share the futures expiry date.
In-the-money options held to expiry are normally exercised and turn into futures, which then carry delivery obligations.
Option sellers need margin, which is usually much higher than the premium.
Before you trade a strike, check its volume and open interest. If the gap between bid and ask is wide, a limit order helps you control the price you pay.
Copper Expiry and Delivery on MCX
MCX copper futures are listed every month and expire on the last calendar day of the month, or the working day before if that day is a holiday or weekend. The October 2026 contract, for example, expires on October 30, because October 31 is a Saturday.
On expiry day, trading in the expiring contract stops at 5:00 PM.
Open copper futures positions held through expiry are subject to compulsory delivery.
The tender period, when delivery can be assigned, covers the last three trading days, including expiry day. If you do not want physical copper, exit before it starts.
Copper prices track copper on the London Metal Exchange (LME), and MCX’s evening session overlaps with London trading hours. See MCX trading time for the full schedule.
Plan Your MCX Trades With AlgoTest
Lot size tells you how much each ₹1 move costs. The next step is checking whether your rules hold up over time.
Use the AlgoTest margin calculator to estimate margin before you place an order.
AlgoTest’s MCX backtesting covers crude oil, natural gas, gold and silver. If you trade these alongside copper, backtest those strategies on historical data first.
Each backtest report, one of the most detailed available to Indian options traders, shows P&L, win rate, risk-reward ratio, maximum drawdown, streaks, Monte Carlo analysis and trade logs. Our backtesting glossary explains each term.
After a backtest, forward test the strategy in live market conditions before you put money behind it.
Test your MCX strategy before you trade it. Sign up to get 100 Backtests free/month
Know Your Copper Exposure Before You Trade
One copper lot moves ₹2,500 for every ₹1 change per kg, so a normal day’s move can mean a large swing in P&L. Decide your entry, exit and the most you are willing to lose on one lot. Then check your margin and test how your rules hold up across calm and volatile months before you trade live.
AlgoTest helps you move from an idea to a strategy you can inspect and test before deciding whether to deploy.
Join us as we simplify retail trading in India.
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FAQs
What is the MCX copper lot size?
The MCX copper lot size is 2,500 kg, or 2.5 tonnes. Copper is quoted per kg, so a ₹1 move changes one futures lot by ₹2,500.
How much is 1 lot of copper worth?
Multiply the price per kg by 2,500. At ₹1,350 per kg, one lot is worth ₹33,75,000. To trade futures, you deposit only the margin, which is a share of this value.
How much margin is needed for one copper lot?
MCX sets initial margin at the higher of 8% or SPAN, plus at least 1% extreme loss margin. On a ₹33,75,000 lot, that is about ₹3,03,750 as an illustration. Check the estimated margin in the AlgoTest margin calculator and confirm it with your broker.
What is the MCX copper futures tick value?
The copper futures tick size is ₹0.05 per kg, so one tick is worth ₹125 on a 2,500 kg lot. Copper option premiums move in ₹0.01 steps, worth ₹25 per lot.
Is Copper Mini available on MCX?
As of October 2026, MCX’s copper specifications list only the standard 2,500 kg contract. The base metal minis on MCX are Zinc Mini, Aluminium Mini and Lead Mini.
What is the copper options lot size?
One MCX copper option lot covers 2,500 kg, the same as the copper futures contract.
When do MCX copper futures and options expire?
Copper futures expire on the last calendar day of each month, or the working day before if that day is a holiday or weekend. Copper options expire three business days before the futures’ tender period begins.
Is MCX copper physically delivered?
Yes. Open copper futures positions held through expiry are subject to compulsory delivery. Exit before the tender period if you do not want physical copper.