MCX copper surges to fresh record high on persistent supply woes
This story was originally published at 18:44 IST on 8 October 2025
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--MCX Oct copper contract hits new record high of INR 1,005.95 per kg
MUMBAI – Copper futures on the Multi Commodity Exchange of India surged to a fresh record high Wednesday owing to persistent concern about supply after major mine disruptions in Indonesia and Chile. Multiple supply disruptions at major mines across the globe have market participants worried about a potential supply deficit in the global copper market this year.
At 1819 IST, the most-active copper contract on MCX was 0.5% higher at INR 1,000.80 per kg, after hitting a new record high of INR 1,005.95 per kg earlier in the day. On the London Metal Exchange, prices have surged to more than $10,000 per tonne and are currently trading at $10,740 per tonne.
Mining giant Freeport-McMoRan has declared force majeure on contracted supplies from Grasberg, the world's second-largest copper mine, and suspended operations after a large flow of wet material blocked access to parts of the underground mine, restricting evacuation routes for workers. Chile's copper output fell nearly 10% in August after a deadly accident at Codelco's flagship mine. The mudslide at Indonesia's Grasberg mine has taken about 3% of global supply offline.
"These disruptions are expected to prompt downward revisions to global supply forecasts by the International Copper Study Group," Kotak Securities said in a report. The trading level for the rest of the session is seen at INR 969.90 per kg to INR 1,015.1 per kg. End
US$1 = INR 88.79
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Rajeev Pai
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