Hindustan Copper Shares Jump as Global Copper Prices Near Record High
Hindustan Copper's stock price surged over 7% in intraday trade on Monday, August 17, as global copper prices neared a record high.
The rally was driven by a sharp move in international copper markets, where the London Metal Exchange's (LME) cash contract climbed as much as $518.50 a tonne above the three-month contract.
Copper prices have risen nearly 16% this year, with much of the gain attributed to heavy flows of the metal into the US, as traders positioned cautiously ahead of an anticipated tariff decision from the Donald Trump administration.
Anupam Mishra, chairman and managing director of Hindustan Copper, stated that the company was targeting around 32,000 tonne of metal-in-concentrate (MIC) production this year, up from 27,000 tonne the previous year.