Copper prices climb toward Rs 1,400 per kg in India as buyers pay up to secure supply
AI Market Summary
News highlights tightening copper fundamentals: demand linked to electrification, renewables, EVs and AI data centres is projected to rise ~50% by 2040, while mine supply growth is slow due to long lead times and declining ore grades. Buyers paying physical premiums signals near-term scarcity beyond benchmark LME pricing, with India's import dependence amplifying exposure to global shortages and logistics-driven price volatility.
Impact level
● Medium
Affected assets
NCCO724COPPER2USD/USDT+0.55%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
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S&P Global forecasts global copper demand will rise from about 28 million tonnes in 2025 to 42 million tonnes by 2040, an increase of nearly 50%. In India, copper demand in FY25 grew 9.3% year on year to 1.878 million tonnes. Demand from greener uses such as solar power and electric vehicles rose 32%, though it accounted for just 4.6% of total consumption. Building and construction, industrial applications and infrastructure remained the largest sources of demand.
