Copper Prices Soar to Record High as Vedanta Limited Benefits
Copper prices have hit an all-time high on the London Metal Exchange, reaching $14,703 per tonne in official trading. This surge is significant for Vedanta Limited, as its copper business is already experiencing higher volumes and a growing share of value from finished products like rods.
The metal's price has risen 18% this year, and global refined copper demand is forecast to pass 30 million tonnes by 2030, with India's consumption projected to grow even faster. Vedanta Limited expects demand to rise 40% by 2040.
Trade flows are also driving the market, as expectations of US tariffs on refined copper imports have pushed metal into US warehouses, where inventories are at a record high. The Indian Primary Copper Producers' Association notes that this has dramatically reduced LME registered stocks by 40% since late May.