Hindustan Copper rallies 20% to fresh high as copper prices surge globally
- 29th January 2026
- 02:30 PM
- 3 min read
Summary
Shares of Hindustan Copper Limited surged nearly 20% on Thursday, hitting a fresh lifetime high as copper prices soared to record levels in both domestic and global markets. Tight supply conditions, robust demand from clean energy and infrastructure sectors, and supportive global commodity trends drove the rally, even as broader equity markets remained under pressure.Mumbai | January 29, 2026
Shares of mini ratna PSU Hindustan Copper jumped almost 20% in today’s trade, as copper prices rose sharply across international and domestic exchanges. The stock touched a new all-time high on strong volumes, extending its recent uptrend despite weakness in benchmark indices.
Copper prices hit record levels on global and domestic exchanges
The rally came as copper futures on the Multi Commodity Exchange (MCX) surged to an all-time high of ₹1,432.35 per kg, gaining more than 8% during the session.
Internationally, three-month copper contracts on the London Metal Exchange (LME) climbed to record levels of around $13,965 per tonne.
The sharp move in prices was accompanied by significantly higher trading volumes, indicating strong investor participation across base metal contracts and metal stocks.
Why copper prices are rising
Copper prices are being supported by strong demand and tight supply. Consumption remains robust from clean energy projects, electric vehicle infrastructure, power transmission networks and data centres, where copper is essential for electrification.
Supply growth, however, has struggled to keep pace. Long development timelines for new mines, regulatory hurdles and declining ore grades have limited output expansion. As a result, even modest increases in demand are pushing prices sharply higher.
Copper is increasingly being seen as a “future metal”, improving long-term earnings visibility for producers.
Commodity rally and softer dollar support prices
The rally in copper has also been reinforced by broader strength across the commodity complex, aided by a softer US dollar. A weaker dollar typically makes commodities more attractive for global investors, supporting inflows into physical assets and futures markets.
At the same time, investors have been positioning for potential shortages in key base metals as global energy transition initiatives accelerate, underpinning sentiment across the metals space.
Geopolitical tensions lift commodity sentiment
Geopolitical developments have added another layer of support to commodity prices. Rising tensions in the Middle East and concerns around possible disruptions to global energy supply routes have pushed crude oil prices to multi-month highs.
Higher oil prices and elevated geopolitical uncertainty have encouraged investors to seek refuge in tangible assets such as metals. This risk-off environment, coupled with currency volatility, has indirectly supported stocks of commodity producers, including Hindustan Copper.
Hindustan Copper extends recent rally
Against this backdrop, Hindustan Copper shares extended gains for the fourth consecutive session, clocking a cumulative rise of nearly 40% over the past few trading days.
The stock has already delivered strong returns so far this year, supported by firm copper prices and improving sentiment towards domestic metal producers.
Market participants say the stock is likely to remain sensitive to global copper price movements in the near term, with volatility expected to stay elevated amid shifting macro and geopolitical cues.
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