Hindustan Copper jumps 7% as LME copper trades near record high and cash premium hits $518.50 a tonne
AI Market Summary
Copper is approaching record highs as LME prompt supply tightness drives extreme backwardation, with the cash-to-3M spread hitting the widest since 2021. US-bound shipments ahead of possible refined-copper tariffs are drawing material from other markets, while LME inventories have fallen to multi-month lows. The setup heightens squeeze risk in nearby contracts and is lifting copper-linked equities, despite relatively healthy global inventories and subdued China demand.
Impact level
● Medium
Affected assets
NCCO724COPPER2USD/USDT-1.67%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
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Hindustan Copper shares rose 7% on August 17 as copper prices on the London Metal Exchange climbed toward a record high. The LME cash premium widened to $518.50 a tonne, the largest since 2021, while three-month copper briefly rose to $14,396 a tonne, nearing the all-time peak of $14,527.50, taking year-to-date gains to nearly 16%. A surge in shipments to the U.S. and the prospect of tariff decisions also supported copper prices.
