India Base Metals
Copper hits record high on supply woes; tops INR 1,200/kg
This story was originally published at 17:54 IST on 26 December 2025
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By Ashutosh Pati
MUMBAI – Futures contracts of copper surged to fresh all-time highs on the Multi Commodity Exchange of India Friday as concerns about tight supply were exacerbated after China decided to tighten copper projects to curb irrational expansion. COPPER prices on the domestic bourse rose past the INR 1,200 per kilogram mark earlier in the day, hitting a new record high of INR 1,277.95 per kg.
According to media reports, China will tighten oversight of new copper and alumina projects to curb irrational investment and disorderly expansion from 2026 to 2030.
"Meanwhile, China's top smelters decided not to set guidance for copper concentrate processing fees for the first quarter of 2026 in a meeting on Thursday, as they grapple with historically low charges amid raw material supply shortage," SMC Global Securities said in a report. This comes after Chilean miner Antofagasta and a Chinese smelter agreed on a zero treatment and refining charge for 2026, highlighting tight ore availability.
Moreover, firm demand from the US and China is also supporting prices of the red metal. Copper prices have risen around 60% this year and are on track for the highest gains since 2009.
At 1711 IST, on the MCX, the January futures contract of:
-–ALUMINIUM was at INR 295.20 a kg, up 2.5%
--Copper was at INR 1,260.4 a kg, up 7.5%
–-LEAD was at INR 182.75 a kg, up 0.2%
–-ZINC was at INR 309.70 a kg, up 1.5%
--NICKEL was at INR 1,480.00 a kg, up 3.3%.
Trading levels for the day on the MCX:
--Aluminium contract seen at INR 280.00-INR 310.00
--Copper contract seen at INR 1,188.00-INR 1,360.00
--Lead contract seen at INR 181.00-INR 184.00
--Zinc contract seen at INR 297.00-INR 326.00
--Nickel contract seen at INR 1,460.00-INR 1,500.00
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Saji George Titus
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