Copper Prices Soar to Record High Amid Supply Concerns and Weaker US Dollar

Hindustan Copper shares jumped over 4% on Tuesday after copper prices hit a record high amid supply concerns and a weaker US dollar.

Copper contracts on the London Metal Exchange touched $14,533 per tonne, surpassing its previous all-time peak of $14,527.50 set in January.

State-owned Hindustan Copper is India's only integrated copper producer with captive mines and has seen its shares gain over 115% in the past year.

The surge in copper prices was driven by strong buying from commodity trade advisor investment funds, largely computer programs, according to Alastair Munro, senior base metals strategist at broker Marex.