Copper Prices Surge to Multi-Year Highs in Early 2026

Global Market Trends

• The London Metal Exchange (LMEX) Index, which tracks six major base metals including copper, has risen to its highest level since March 2022, signaling renewed strength in the sector.
• On January 6, 2026, copper touched a fresh high of $6.069 per pound in the Comex spot market, marking a 59.63% year-on-year jump from $3.802 per pound.
• As of 2:24 pm IST, January 10, copper was trading slightly lower at $5.849 per pound, reflecting minor profit-taking after the rally.

Domestic Market Performance

• On the MCX (Multi Commodity Exchange), copper futures peaked at ₹1,392.95 per kilogram on December 29, 2025.
• Prices have since eased, hovering at ₹1,278.95 per kilogram as of January 10, 2026.

Investment Insights

• According to the latest Motilal Oswal Wealth Management report, copper prices surged nearly $13,000 per ton in 2025, underscoring strong demand and supply constraints.
• The rally has been driven by copper’s critical role in wiring, cables, clean energy infrastructure, and advanced manufacturing, making it a cornerstone of the global industrial economy.

Outlook

Copper’s strong start to 2026 highlights its importance as a barometer of industrial demand. Analysts expect continued volatility, with prices influenced by:

• Global economic growth and infrastructure spending.
• Energy transition projects, which require massive copper inputs.
• Supply chain constraints in major producing regions.