New Record
MCX copper hits fresh record high on concern about supply from Grasberg mine
This story was originally published at 15:24 IST on 25 September 2025
Register to read our real-time news.Informist, Thursday, Sept. 25, 2025
--MCX Oct copper contract hits new record high of INR 963.45 per kg
--MCX Sept copper contract hits new record high of INR 955.70 per kg
MUMBAI – Copper futures on the Multi Commodity Exchange of India surged to a new all-time high Thursday due to concern about supply after mining giant Freeport-McMoran declared force-majeure on contracted supplies from its Grasberg mine in Indonesia. Copper prices have risen for five straight sessions on the domestic exchange.
At 1504 IST, the most-active copper contract on MCX was 1.2% higher at INR 957.30 per kg, after hitting a new record high of INR 963.45 per kg earlier in the day. The previous record high on the domestic bourse was INR 953.45 per kg, recorded on May 21, 2024. On the London Metal Exchange, copper prices surged 3.6% in the previous session and are currently at $10,437 per tonne.
According to media reports, Freeport-McMoran said it was expecting consolidated sales to be lower by around 4% for copper and nearly 6% for gold in the third quarter, compared to its previous forecast. The Grasberg copper mine in Indonesia, the world's second-largest copper mine, suspended operations after a large flow of wet material blocked access to parts of the underground mine, restricting evacuation routes for workers.
"A prolonged disruption at the Grasberg mine could drive copper prices even higher, while intensifying supply challenges for smelters already facing feedstock shortages," analysts at ING said in a report. "It adds to disruption in global copper supplies. Earlier this week, Hudbay Minerals announced a shutdown at its Constancia mill in Peru due to ongoing political protests," the analysts said. End
US$1 = INR 88.69
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Avishek Dutta
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
