Shares of Hindustan Copper Ltd jumped over 6% to Rs 363.05, marking a fresh 52-week high in Tuesday’s early session, as global copper prices surged to all-time highs amid supply disruptions across major mining hubs.
Copper futures rallied past $5 per pound, reaching their highest level in over two months following production constraints in Indonesia and Chile, the world’s two largest copper producers. Operations at Indonesia’s Grasberg mine, one of the world’s biggest copper mines, remain limited after a fatal accident last month, with operator Freeport-McMoRan indicating full capacity may not resume until early 2027.
Similarly, Chilean state-owned Codelco has temporarily halted mining and smelting operations at its El Teniente facility due to an earthquake in late July, further tightening global supply. Adding to the pressure, Canada’s Teck Resources cut its annual production forecast to 170,000–190,000 metric tons, down from an earlier projection of 210,000–230,000 metric tons.
The bullish tone in the copper market was further supported by growing expectations that the US Federal Reserve could implement another rate cut this month, with a possible follow-up reduction in December, boosting the outlook for industrial metal demand.
At 10:10 AM, Hindustan Copper’s shares were trading 6.09% higher at Rs 363.05 on the NSE, up from the previous close of Rs 342.20, taking its market capitalization to Rs 35,122 crore. The stock has now more than doubled from its 52-week low of Rs 183.82.
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