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Informist, Friday, Dec. 26, 2025

 

--MCX Jan copper contract hits new record high of INR 1,223.3 per kg 

 

NEW DELHI – Futures contracts of copper on the Multi Commodity Exchange of India rose to fresh all-time highs, tracking the jump in copper prices to record high levels on the London Metal Exchange. Prices rose as the dollar weakened and traders bought the industrial metal amid concerns over tighter global supplies in 2026. 

 

Growing expectations of a rate cut by the US Federal Reserve next year also supported the dollar-priced metal. Typically, lower borrowing costs boost construction and manufacturing activities, aiding copper demand.

 

At 1015 IST, the January copper contract was up 3.5% at INR 1,216.05 per kilogram after hitting the record high of INR 1,223.3 per kg. On LME, the three-month copper contract was up nearly 1% at $12,133 per tonne, after hitting a record high of $12,282 per tonne earlier in the day. 

 

Domestic copper prices have risen over 50% on year on MCX amid supply shocks due to disruptions at major mines, tariff uncertainties, and geopolitical tensions. Strong demand for copper in electric vehicles, renewable energy, and artificial intelligence-related data centres is also supporting copper. 

 

Prices also rose as traders accelerated shipments to the US ahead of possible import tariffs, Kedia Advisory said in a note. "Copper's extraordinary rally this year has made it one of the best-performing commodities since 2009. Prices climbed to a historic $12,282 per tonne on the LME and around 1,200 per kg on the MCX," it added. 

 

Copper prices also rose as demand from China picked up in the run-up to the holiday season. However, the downstream demand has dampened at higher price levels. "The rapid rise in copper prices drove end-user purchase willingness to a freezing point, essentially falling into a standstill state, with severe absence of buying support in the market," according to Shanghai Metals Market. 

 

"If the supply tightness persists, copper could maintain its momentum into next year, reinforcing its status as the metal of the future," Kedia Advisory said. End

 

US$1 = INR 89.82

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Afra Abubacker

Edited by Tanima Banerjee

 

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