Copper Market

Chhattisgarh govt starts biggest copper concentrate export to China

Equipped with the latest cargo handling systems, rail connectivity, and multimodal integration, the facility enables industries to access global markets

Vedanta Resources to invest $1.5 billion to launch CopperTech in US

Vedanta Resources will invest $1.5 billion to form CopperTech Metals in US, expanding copper output from Zambia's Konkola Copper Mines to strengthen America's energy and infrastructure supply chain

US, India likely to drive new copper demand as China's growth slows

Changing regional policies, infrastructure cycles and geopolitical shifts are likely to mean producers, consumers, traders and investors need to adapt to a market that has many different drivers

Copper industry raises concerns over rising UAE imports under CEPA

The Indian Primary Copper Producers Association (IPCPA) has raised concerns over rising copper rod imports from the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), warning that the trend threatens domestic investments in copper refining. Since 1996, Indian producers - Hindustan Copper Ltd, Hindalco Industries, Vedanta Ltd, and Kutch Copper Ltd (Adani Group) - have built a domestic refined copper capacity of 1.25 million tonne, against a projected demand of 0.85 million tonne for FY25. The industry had plans to expand capacity further in the coming decade. However, IPCPA in a letter to the commerce ministry said CEPA poses "a significant obstacle" to these plans, as the UAE, despite having no copper mining, smelting, or refining infrastructure, is exporting copper rods to India with minimal value addition. The UAE firms merely convert imported copper cathodes into rods, a process that alters the tariff classification but adds negligible real value, ...

India faces copper crunch from energy transition, infra growth: CSEP report

The report by the Centre for Social and Economic Progress warns that India's copper imports could rise sharply unless mining, processing, and recycling capacity is scaled up

Codelco finds human remains, setback for Chile mine rescue efforts

The world's biggest copper supplier halted production at the site after a collapse attributed to seismic activity on Thursday trapped workers in a new section of the mine

Motilal Oswal recommends 'buy' on MCX Copper, set target at ₹915

Motilal Oswal Wealth Management recommends buying in the range of ₹882 - ₹880, with a stop-loss below ₹855 on a closing basis

World Bank, IFC approve $700 million loan for Pakistan's Reko Diq project

The International Finance Corporation and the World Bank have approved a concessional loan of USD 700 million for a major mining and resource development initiative in Pakistan, according to a media report. The Reko Diq project is located in Balochistan province, which is known as a mineral-rich region of the country. This approval by lenders is a significant victory for Pakistan, The Express Tribune newspaper reported. As a result of this approval, the private sector is expected to invest USD 2.5 billion in the Reko Diq project, one of Pakistan's most important initiatives, the report said. With the approval, Pakistan has taken a crucial step forward in securing the success of the Reko Diq project, which is expected to play a pivotal role in the country's resource development sector. Barrick Gold and the federal and Balochistan governments own the project jointly. The financing for phase one of the project, which is expected to start production in 2028, is being discussed with ..

India to defend import curbs on copper in legal battle with trade groups

India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure

Chile's Codelco to supply copper concentrate to Adani Group-owned smelter

The supply will begin this year, said Codelco, whose chairman, Maximo Pacheco, met Adani Group chairman Gautam Adani at the conglomerate's headquarters in Ahmedabad

India's copper demand set to grow 7% on clean energy push: PHDCCI

Propelled by growing consumption in the renewable energy sector and infrastructure development, copper demand is likely to rise about 7 per cent in the country in the coming years, according to industry officials. Policy initiatives such as construction of industrial corridors, housing for all Indians, national highway development projects, and energy transition projects are driving the demand for copper and it is anticipated to increase significantly, PHDCCI President Hemant Jain said. "Copper demand is expected to rise by 7 per cent in India in coming years. The copper sector is expected to attract private investment, supported by handholding by the government, especially through initiatives such as the PLI and Atmanirbhar Bharat," Jain said. According to industry estimates, India's refined copper production is around 555,000 tonnes per year against domestic consumption of more than 750,000 tonnes. India imports around 500,000 tonnes of copper a year to meet local demand. Industr

India's copper demand rises by 13% to hit 1,700 kilo tonnes in FY24

India's copper demand grew by 13 per cent annually to hit 1,700 kilo tonnes in FY24, driven by the rapid pace of infrastructure development and building constructions, the International Copper Association India said on Monday. Traditionally, building construction and infrastructure account for 43 per cent of copper demand while contributing 11 per cent to GDP, International Copper Association India said in a statement. As per the study undertaken by the International Copper Association India, the copper demand in the country witnessed a 13 per cent year-on-year growth in FY24, reaching 1,700 kilo tonnes (kt). This surge is attributed to overall economic expansion. After the Covid pandemic, the average annual copper demand increased by 21 per cent between FY21 and FY24, the industry body said. It further said that the demand for the commodity will continue to rise in the next financial year as well, fuelled by rapidly growing infrastructure and building construction sectors in the .

Copper industry to see 10-13% spurt in demand in H2FY25: ICA India

Coming calendar year may see change in trade partner dynamics for copper rods, concentrate imports

Hindalco industries joins International Copper Association as new member

Global industry body International Copper Association (ICA) has elected Aditya Birla Group firm Hindalco Industries Ltd as its newest member. Operating since 1958, Hindalco Industries., the metals flagship firm of the Aditya Birla Group, is a leading copper and aluminium producer. The company produces copper cathodes and continuous cast copper rods for domestic and international markets. "We are excited to join ICA and collaborate with the global copper fraternity to develop the value chain for this critical metal for the world's net zero transition," Rohit Pathak, CEO-Copper Business of Hindalco was quoted as saying in a press statement. India is going to be one of the most exciting hubs for Copper and its products over the next few decades, he said. ICA President Juan Ignacio Daz said, "We are excited to welcome Hindalco Industries to ICA as a key global industry player, sharing our vision to advance the future of human development." ICA is a not-for-profit trade association ...

Adani's Kutch Copper nears Rs 30,000 crore copper sourcing deal with BHP

Adani-controlled Kutch Copper is reportedly in talks with Australian mining giant BHP for a deal involving up to 1.6 mtpa of copper concentrate, potentially worth Rs 30,000 crore annually

Hindustan Copper may exceed capex target of Rs 350 cr this financial year

State-owned Hindustan Copper Ltd on Friday said it is likely to exceed its capex target of Rs 350 crore for the ongoing fiscal year. "Although this year's capex target is Rs 350 crore, it is expected that the company may exceed the target like last year," the company said in a filing to the BSE. The company is continuously investing in its ongoing mine expansion plan. The PSU has floated tender for the appointment of developer for Rakha mine, it said, adding that once finalised, this will make way for fresh investment. The domestic copper demand in the country will grow in line with the growth of sectors such as renewable, transportation and construction sectors. "Analysts suggest that there will be double-digit growth in these sectors in the short term. Accordingly, copper sector growth is expected to be in double digit," it said. The current per capita refined copper consumption in India is around 0.5 kg, far less than the global average of about 3.2 kg per capita, leaving a hu

Copper, Crude Oil: Check key trading strategy, target price and more

On the daily chart, MCX Copper has been unable to sustain the breakout of its rising channel pattern and has moved down, forming a lower high, lower low pattern, indicating bearish sentiment

Nifty Metal index hits record high on May 21; what's fuelling the rally?

The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25

UAE firm eyes majority stake in Vedanta's Zambian mines in expansion drive

The Zambian government owns 20% of KCM through state firm ZCCM-IH

Adani group begins operations of its copper unit plant at Mundra, Gujarat

Adani group on Thursday announced start of its maiden copper plant at Mundra in Gujarat. Adani Enterprises is setting up plant with 1 million tonnes capacity in two phases. "Close to $1.2 billion will be invested in the first phase," the firm said in a statement. This marks the Adani portfolio's debut in the metal industry. "The successful progress of the greenfield unit showcases the Adani Group's ability to plan and execute largescale projects," it said. Adani Enterprises is investing nearly USD 1.2 billion to set up a copper smelter with 0.5 million tonnes capacity in the first phase. On completion of the second phase that will add similar capacity, Kutch Copper, with 1 million tonnes annual capacity, will be the world's largest single-location custom smelter, benchmarking ESG performance standards while leveraging state-of-the-art technology and digitalisation. It will create 2,000 direct and 5,000 indirect employment opportunities. "With Kutch Copper commencing operations, t