Copper hits record high: How Hindustan Copper, Bhagyanagar India and other stocks are performing

Shares of copper-related companies like Hindustan Copper, Madhav Copper and others were rallying on Thursday, October 9, as copper prices hit a lifetime high.

At MCX, copper futures for October expiry touched a record high of ₹1,013 per kg on Thursday.

According to Indonesia’s news agency Antara, a series of mine outages—including at Grasberg, the world’s second-largest copper producer—are tightening supply. The Freeport-McMoRan Inc. operation is now expected to resume only by mid-2026, the agency reported, citing a local official.

On October 8, copper prices had briefly hit a 16-month peak on worries about potential shortages from a series of recent mine disruptions in Indonesia, Chile and Congo.

However, copper-related stocks were trading higher on Thursday. Hindustan Copper shares rallied 6.3% on the NSE to its intraday high of ₹364 per share. At the time of writing the piece, shares of the firm were trading 5.71% higher at ₹361.75 apiece on NSE.

The stock was the biggest contributor to the Nifty Metal index, which was up 2.3% in the day’s high.

The market sentiment toward the metals sector strengthened after the European Commission proposed on Tuesday to nearly halve tariff-free steel import quotas and impose a 50% duty on excess shipments, aiming to protect the viability of steelmaking within the European Union.

Other copper-related stocks like Madhav Copper, Hindalco Industries and Vedanta also gained 4%, 1.5%, and 2.28% to their respective intraday highs, respectively.

Shares of Bhagyanagar India, which produces copper products in India, also rallied 2.4% to an intraday high. At 1:05 PM, the stock was trading at ₹100 per share on NSE, rising 1.97%.