Copper Market Update: Price Trends and Key Insights

COPPER MARKET UPDATE: 10-01-2025

Copper prices per kg saw a rise of 0.29%, settling at ₹825, supported by a weaker U.S. dollar and expectations of less aggressive tariff policies under U.S.

President-elect Donald Trump. Market optimism was further fueled by China’s commitments to enhance monetary and fiscal measures to boost economic growth.

Rising Demand for Copper

The growing adoption of electric vehicles (EVs) and renewable energy technologies continues to drive robust demand for copper, reinforcing its pivotal role in the global energy transition.

Production Highlights

Chile: Copper production surged by 9.8% year-on-year in November, reaching 488,519 metric tons.
China:
- Copper cathode output grew 0.94% month-on-month and 4.61% year-on-year.
- Unwrought copper imports for January-November 2024 stood at 5.13 million tons, reflecting a 1.7% year-on-year rise, driven by restocking at lower prices.
- Copper concentrate imports dropped 7.8% in November compared to the previous year.

Global Market Trends

The refined copper market recorded a deficit of 41,000 metric tons in October, significantly improving from September’s 136,000 metric ton deficit, according to the ICSG.
From January to October 2024, the global market exhibited a surplus of 287,000 metric tons, a marked increase from the 9,000 metric ton surplus in the same period of 2023.

Technical Market Insights

Short Covering: Open interest in the copper market fell by 3.55%, reaching 5,761 contracts, indicating investor repositioning.
Key Price Levels:
- Support: ₹822, with a further downside potential to ₹819.
- Resistance: ₹827.7, with potential to reach ₹830.4 on a breakout.

We also provide rates for other cities.

For the Current Delhi scrap price today, make sure to click here :- CONTACT NOW daily for current market trends and future forecasts.

SHREE METAL PRICES

+91-9310 295 053

Copper Market Update: Price Trends and Key Insights

© 2025 Shree Metal Prices. All rights reserved.

Terms and Conditions