Hindustan Copper shares have extended their remarkable rally, climbing for the seventh consecutive trading session to reach a new all-time high on Monday, December 29. The stock surged as much as 15% during the session to touch ₹545.95 on the NSE, taking its cumulative gain over the past seven sessions to nearly 50%.
The sharp rise in the PSU miner’s stock comes amid an unprecedented surge in copper prices across global and domestic markets. On the Multi Commodity Exchange (MCX), copper futures for December 31 delivery jumped as much as 9% to hit a record ₹1,372.60 per kilogram. Internationally, copper futures on the London Metal Exchange (LME) climbed nearly 7%, scaling a historic high of $12,960 per tonne.
Copper prices have rallied over 50% so far this year, marking their strongest annual performance since 2009. Analysts attribute the surge to robust demand from renewable energy, electric vehicles, and technology sectors, combined with growing supply-side challenges.
Market participants note that copper prices breaching the $12,000-per-tonne mark reflect severe tightening in global supply. Production disruptions in key mining regions such as Chile and Indonesia have further strained availability. Environmental setbacks and operational issues at major mines have reduced output, exacerbating the supply-demand imbalance.
According to a recent report by global investment bank JPMorgan, copper prices are expected to remain elevated, potentially averaging over $12,000 per tonne in 2026. The bank highlighted significant supply disruptions, including force majeure at Indonesia’s Grasberg mine and downgraded output guidance at Chile’s Quebrada Blanca mine.
The report also pointed to evolving market dynamics in China, where stronger domestic demand could limit exports, unlike previous copper price cycles. Meanwhile, concerns over potential trade tariffs have kept US copper prices trading at a premium.
Supporting the bullish sentiment, Hindustan Copper posted strong financial results in the September quarter. The company reported an 81% year-on-year rise in consolidated net profit to ₹183.79 crore, while revenue from operations jumped nearly 39% to ₹718.04 crore.
By mid-morning trade, Hindustan Copper shares were up around 8%, significantly outperforming the broader metal index, as investor optimism remained strong amid favourable commodity fundamentals.
