Copper Prices Soar Near All-Time Highs on MCX Amid Global Supply Disruptions
Copper prices in India are nearing all-time highs on the Multi Commodity Exchange (MCX), trading around Rs 1,380-1,400 per kg. This surge comes as global copper markets face growing concerns over mine supply and availability.
The Indian market is influenced by international copper prices, USD/INR exchange rates, disruptions to copper supplies, and trade policies. The London Metal Exchange (LME) recorded a record price of $14,708 per tonne on September 8 due to rising anxiety about future supply and demand.
One factor driving the copper rally is the tightening of global copper supplies outside of the US. Tariff concerns led traders and industry purchasers to stockpile large amounts of copper before potential US tariffs took effect, disrupting regular trade channels and reducing availability elsewhere in the market.