Copper prices on the Multi Commodity Exchange (MCX) scaled a fresh all-time high on Thursday, with the continuous copper futures contract touching Rs 1,432.35 per kg, rising nearly 6% in a single session. The sharp jump reflects a strong global rally in copper prices, driven by a mix of geopolitical concerns, dollar weakness, and renewed investor interest in commodities.
The rally in MCX copper closely tracked record-setting moves in international markets. On the Shanghai Futures Exchange, the most-active copper contract climbed over 6% to cross 108,700 yuan per tonne, while three-month copper on the London Metal Exchange surged to nearly $14,000 per tonne, also marking a historic high.
Market participants said copper is emerging as the next major beneficiary of the broader metals rally after gold and silver touched record levels earlier this week. As investors rotate within commodities, copper has attracted fresh inflows amid expectations of sustained tight supply conditions and macro uncertainty.
Geopolitical tensions have further supported prices, with investors increasing exposure to physical assets amid global risks. At the same time, a softer US dollar has made commodities more attractive to global buyers, adding momentum to copper’s surge.
Although spot demand in China remains subdued, with the Yangshan premium slipping to multi-month lows, traders noted that global investment flows, supply concerns, and risk-driven buying are currently outweighing near-term demand signals.
With copper prices hitting record highs across global exchanges, MCX copper continues to reflect the strength of the international metals rally, marking one of its strongest sessions on record.
