Copper prices hit record $14,533 a ton; Hindustan Copper shares rise 4%
Benchmark copper contracts on the London Metal Exchange reached a new all-time high of $14,533 per metric ton, while Hindustan Copper stock climbed more than 4 percent. Traders attribute the surge to supply fears and a softer US dollar.
Hindustan Copper shares jumped over 4 percent on Tuesday, trading at Rs 531 each on the National Stock Exchange of India. This gain occurred despite weaker general market sentiment. The company's stock moved as copper prices climbed to an unprecedented level of $14,533 per metric ton on the London Metal Exchange. This figure exceeded the previous record peak of $14,527.50 set in January. In the domestic Indian market, Copper futures on the Multi Commodity Exchange rose roughly 1 percent toward lifetime highs. Supply shortages and a weaker US dollar are key factors cited for this rally. Buying activity was significant among Computer Trade Advisor (CTA) investment funds, which operate using automated programs. International traders have been shipping large volumes of copper to the United States following President Donald Trump's earlier hints at import tariffs in February. While Comex inventory stands at a record 766,795 short tons, current production levels cannot keep up with global demand. Tariffs on refined copper products were eventually imposed in July rather than on all copper forms.
