Shares of Hindustan Copper Ltd. surged 7.65% in trade on Monday after copper prices climbed towards an all time high on the back of a supply crunch and widening of cash-to-three-month spread in copper contract prices on the LME.
The LME copper spot premium widened to its highest level since 2021, trading roughly $400 a tonne above the three month contracts which were priced at $14,160 a tonne. Spot copper, on the other hand, traded at $14,503 a tonne.
In the last month, copper prices have remained above $13,500 levels amid tightness in physical markets with inventory nearly a halving from April 2026 at below 280k tonnes, according to Anand Rathi research.
The research firm outlined that record inventory stocking at over 700k tonnes at COMEX has also led to inventory drawdown across other exchanges.
On the multi commodity exchange, the metal's August contracts traded 0.92% higher at Rs 1,391.30 per kg, and contracts ending September 2026 were up 0.9% to Rs 1396.15 per kg.
As of 2:08 p.m., Hind Copper pared some gains to trade 7.31% higher at Rs 567.70 apiece on the NSE, as against a 0.11% decline in the benchmark Nifty index.
The shares have surged 9.56% year-to-date, and more than doubled in the last 12 months, soaring 136%. Parthiv Jhonsa from Anand Rathi has a 'buy' call on the stock according to Bloomberg data.
Copper prices have soared 16% so far this year, lifted by a surge in shipments to the US ahead of a potential tariff decision by the Trump administration.
The consequent reduction in supplies in other markets, along with expectations of strong long-term demand from the energy transition and hurdles in developing new mines, has further pushed prices higher.
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