The rally tracked a sharp move in international copper markets, where the London Metal Exchange’s (LME) cash contract climbed as much as $518.50 a tonne above the three-month contract.
Copper prices have risen nearly 16% this year, so far. Much of the gain has been driven by heavy flows of the metal into the US, as traders positioned cautiously ahead of an anticipated tariff decision from the Donald Trump administration, which could reduce supply available to markets outside the US.
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Global copper inventories remain adequate overall, but stockpiles have built up in the US, sitting outside LME-tracked warehouses, as traders stayed wary of possible US duties on refined copper imports. Chinese demand, meanwhile, has stayed comparatively weak.
Anupam Mishra, chairman and managing director, Hindustan Copper, told CNBC-TV18, last week that the company was targeting around 32,000 tonne of metal-in-concentrate (MIC) production this year, up from 27,000 tonne the previous year, while maintaining its broader production goals. The focus remains on speeding up project execution and mine development to support longer-term output, he said
The company separately announced after market hours on Friday, 14 August, that it would appoint two new part-time, non-official independent directors to its board. Ashish Kumar Khetan and Madhumita Daolagupu were named as the new appointees.
Hindustan Copper reported its quarterly results earlier this month, with net profit rising to ₹353 crore from ₹134 crore in the same quarter a year earlier.The stock has gained over 8% since the start of the year and surged more than 134% over the past twelve months.
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