Shares of Hindustan Copper continued their strong upward momentum on Monday, December 29, rising for the seventh consecutive session to hit a fresh all-time high of Rs 545.95 on the National Stock Exchange. The stock was trading around Rs 521.50, up 9.65%, during the session.
Over the last seven trading days, Hindustan Copper shares have surged nearly 48%, supported by a sharp rally in global and domestic copper prices. On the Multi Commodity Exchange, copper futures for December 31 delivery climbed nearly 9% to a record Rs 1,372.60 per kg. Meanwhile, copper prices on the London Metal Exchange jumped close to 7% to an all-time high of $12,960 per tonne.
Copper prices have risen over 50% so far this year, marking their strongest annual performance since 2009. The rally has been driven by tightening global supply conditions, strong demand from technology and energy transition sectors, and concerns around tariffs and trade restrictions.
Market participants have pointed to supply disruptions in major producing regions such as Chile and Indonesia, including operational challenges and environmental incidents, which have contributed to a tighter copper market globally. According to a JPMorgan report, copper markets have tightened significantly due to acute supply disruptions, with production setbacks at key mines impacting global availability.
JPMorgan expects copper prices to average higher levels in the coming periods, citing constrained inventories and persistent demand. The investment bank highlighted that supply issues at major mines and changing demand dynamics, particularly from China, are reshaping the global copper market.
On the earnings front, Hindustan Copper reported an 81% year-on-year jump in consolidated net profit to Rs 183.79 crore for Q2 FY26, while revenue from operations rose 38.6% to Rs 718.04 crore. As of mid-morning trade, the stock continued to outperform the broader NIFTY Metal index, which was trading modestly higher.
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