Commodities
Hindustan Copper Stocks Soar as Global Copper Prices Near Record-high
Hindustan Copper's stock surged more than 8% in intraday trade on August 17, mirroring the sharp increase in global copper prices. The company emerged as the top gainer on the Nifty 500 index during that session.
The global copper market is witnessing a rally, with prices climbing nearly 16% so far this year. This surge is attributed to heavy imports of the metal into the US ahead of an expected tariff decision by the Donald Trump administration.
A potential tariff on refined copper imports could tighten supplies available outside the US. The London Metal Exchange's cash copper contract has traded as high as USD 518.50 a tonne above the three-month contract, indicating tightness in the spot market.