The reddish brown metal is mostly unrivaled as an electrical and thermal conductor
Yet, while the biggest miners are universally bullish on the outlook for copper, there are few new projects on the horizon, constraining future supply.
Copper, a bellwether for the global economy, rose as much as 2.4% to $9,780 per tonne in London
The 2020s are expected to be the strongest phase of volume growth in global copper demand in history: report
Hawks say that pockets of inflation today will turn into across-the-board price increases tomorrow, with stimulus providing the fuel
Durables makers hike prices to offset input costs
OPEC+ will have an important say in how the oil supercycle plays out. Oil prices are now at a level that could bring at least the smaller US operators back and even start to tempt renewed longer-cycle
Hindustan Copper hit an eight-year high of Rs 128, up 10 per cent on the BSE in intra-day trade on Wednesday on the back of heavy volumes
Shares of firms in this space up 50-198% since November 2020; global demand for copper and aluminium outstrips supply, pushing spot prices higher than futures
Copper climbed as much as 4 per cent on Monday and is heading for an unprecedented eleventh monthly rise in February
While Covid-19-led lockdowns across the globe destroyed demand in the early part of 2020, a supply cut-driven rally and sharp recovery in the auto sector have emerged as big themes
Benchmark copper on the London Metal Exchange (LME) traded up 0.5 per cent at $7,784.50 a tonne in official rings, nearing Friday's peak of $8,028, its highest since 2013
Three-month copper on the London Metal Exchange was up 0.9 per cent to $7,368 a tonne at 6:00 pm (IST), after hitting $7,410 a tonne, its highest since January 2, 2014
Stress ratio, a barometer for economy, also indicates tension ahead
The anticipated economic slump is likely to weaken their prospects
China, Japan, Korea, European Union (EU) are already importing copper concentrate at zero duty
LME copper prices started declining and have remained suppressed ever since the US-China trade war began
Moderation in prices is crucial for the gems and jewellery business ahead of the festive season
Prices fell 1.8 per cent to $5,520 a tonne on the London Metal Exchange on Tuesday
Metal for delivery in November contracts traded higher by 60 paise or 0.19%