Copper Prices Soar to Record High on Strong Demand and Supply Disruptions

Copper prices have reached an all-time high due to rising demand from various industries and potential supply disruptions. The US benchmark three-month copper price on the London Metal Exchange (LME) rose by as much as 0.8% to $14,533 a tonne on September 7.

The surge in copper prices has benefited companies involved in the metal's production and trade. Shares of Hindustan Copper advanced up to 5% to ₹535 apiece on the NSE in early trade on Tuesday, as copper prices hit a record high.

Copper is used extensively in semiconductors, batteries, and power grids due to its high electrical conductivity. Analysts expect demand for the metal to continue rising over the medium to long term as investment in AI data centres and grid infrastructure accelerates.

India is expected to become the second-largest copper-consuming region by 2035, with 4 million to 5 million mt of copper demand projected for that year. Local production gains are also anticipated through increased recycling and use of tougher concentrates.