Commodities
India Copper Cathode Prices Jump as LME Tops $14,000/t
Copper cathode prices in India have surged due to strong global benchmarks. The London Metal Exchange (LME) copper price climbed above $14,000/t for the first time in nearly three months, with a 24% drop in LME stocks supporting global prices.
The ex-Mumbai copper cathode price rose to around INR 1,395,000/t on August 6 from approximately INR 1,333,000/t last week. Similarly, Ahmedabad prices increased to around INR 1,397,000/t from INR 1,335,000/t over the same period.
The rally in LME copper prices was driven by continued drawdowns in LME inventories, which have declined by nearly 24% over the past month. This has reinforced concerns over tightening physical availability.