Indian Copper Cathode Prices Soar on Strong LME Rally

Copper cathode prices in western India have surged sharply due to a strong rally in London Metal Exchange (LME) copper prices, higher Multi Commodity Exchange (MCX) futures, and firmer import premiums.

Ex-Mumbai copper cathode prices rose to around INR 1,395,000/t on August 6 from nearly INR 1,333,000/t last week. Similarly, Ahmedabad prices increased to around INR 1,397,000/t from approximately INR 1,335,000/t over the same period.

The rally was driven by global benchmarks, with LME copper prices climbing above $14,000/t and MCX copper futures registering a 3.6% week-on-week increase.