Copper prices hit 10-year high due to supply concerns

28 Apr 2021 CW Team

Copper prices have hit a 10-year high, as concerns about supplies from Chile, sliding inventories, a lower dollar and expectations of stronger demand from top consumer China triggered fresh purchases.

The most-traded June copper contract on the Shanghai Futures Exchange jumped as much as 3.5% to $11,230.38 a tonne, a level unseen since February 2011. It closed up 3% at $11,230.38 a tonne.

Three-month copper on the London Metal Exchange hit $9,965 a tonne, its highest since March 2011, before retreating to $9,921 a tonne by 0705 GMT, still up 1.7%.

Copper is often used as a gauge for global economic health and is used in electric vehicles and renewable energy productions. Mining unions and port workers in Chile have threatened protests over pension savings withdrawal issues.

Copper prices are being supported by strike threats in Chile, though high prices are deterring downstream physical markets from buying, ING analysts said in a note.

Yangshan copper premium came down to $46.50 a tonne, its lowest since November, indicating weakening demand from top consumer China.

One party controls 80%-90% of available copper stocks and short-term futures on the LME, exchange data showed. Spot copper treatment charges (TCS) in China increased for the first time since August, up to $2 at $32.50 a tonne as of April 25, Asian Metal data stated.

Image Source

Also Read: Stainless steel's use in infra will sustain demand

Also Read: Government considers making scrap recycling, organised sector

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..