Copper Prices Rise as Global Supply Concerns Mount

Copper prices rose by 0.16% to ₹1,379.15 on July 31, driven by concerns over tightening global supply and constrained mine output.

The market is under fresh buying pressure, with open interest increasing by 1.03% to 10,349 contracts.

The Democratic Republic of Congo's copper concentrate export ban has added to supply concerns, while potential U.S. import tariffs are redirecting copper toward American warehouses.

Goldman Sachs raised its 2026 refined copper deficit forecast outside the U.S. to 640,000 tonnes from 60,000 tonnes, highlighting the tightening availability of the metal.