Copper Prices Hit Near Record High on LME, Hind Copper Shares Soar

Hind Copper shares rose 7% on August 17 as copper prices climbed toward a record high. The metal's spot price traded as much as $518.50 a ton above three-month contracts on the London Metal Exchange, marking the widest gap since a major market squeeze in 2021.

The sharp backwardation indicates that near-term demand is outpacing available supplies. Copper prices have gained nearly 16% so far this year, supported by a surge in shipments to the US ahead of a potential tariff decision by the Trump administration.

Cable and wire stocks also gained, with Finolex Cables, Polycab and KEI Industries rising up to 5%. LME-monitored copper inventories have declined to just over 200,000 tonnes, their lowest level since February.