Copper Surges to Record High Amid Supply Constraints

Hindustan Copper surged nearly 5% on Tuesday after copper prices hit an all-time high, buoyed by tight supplies and US tariffs on refined metal imports.

Copper prices touched a record $14,617 per tonne on the London Metal Exchange, while three-month futures rose 0.5% to $14,581 per tonne in Singapore.

Kotak Neo said supply constraints and tariff-driven inventory dislocations continued to tighten the market, with copper up more than 17% this year due to ageing mine supply and rising demand from grids, data centres, and electrification.

Jia Zheng, a trading manager at Suzhou Chuangyuan Harmony-Win Capital Management Co, said 'it should be easy for copper to reach $15,000' based on strong orders from State Grid Corp. of China.