Hindustan Copper extends record-breaking streak, shares surge nearly 50% in seven sessions; here is why

Shares of Hindustan Copper have been witnessing strong buying interest for quite some time now. The stock rose for a seventh straight session on Monday, December 29, to hit new record high of ₹545.95 on the National Stock Exchange. In the last seven trading sessions, Hindustan Copper shares have surged as much as 48.27%, data from the NSE showed.

Hindustan Copper shares have been witnessing buying interest after prices of copper surged to record highs in the international and domestic markets. Copper futures for delivery on December 31 rose as much as 9% to hit a record high of ₹1,372.60 per kilogram on the MCX.

On the London Metal Exchange, copper futures rose nearly 7% to hit an all-time high of $12,960 per tonne.

So far this year, copper prices have rallied by more than 50% and are poised for their biggest annual gain since 2009, supported by rising demand from technology and energy transition sectors and tariff-related uncertainties.

Market experts noted that global copper prices have surpassed the $12,000-per-tonne mark on the LME for the first time and will continue to march higher on the bourse.

They attributed the current surge to supply challenges in major producing regions such as Chile and Indonesia, where environmental disruptions and operational issues have contributed to a tighter global market.

As per a report by global investment bank JPMorgan, copper is likely to surge to $12,500 per million tonnes in the second half of 2026 ultimately averaging $12,075/mt for the full year.

JPMorgan report stated that copper market has tightened significantly on the back of acute supply disruptions, sending prices soaring.

"In September, a fatal mudslide occurred at Grasberg in Indonesia — the world’s second largest copper mine — triggering a force majeure; the Grassberg Block Cave portion of the mine, which accounts for 70% of previously forecasted production, is expected to remain closed until the second quarter of 2026. Elsewhere, production guidance at the Quebrada Blanca copper mine in Chile has been downgraded due to operational challenges, further compounding the global shortage," JPMorgan said in a report.

JPMorgan noted that the current market tightness is unfolding against a backdrop of disrupted copper inventories. After front-loading imports earlier in the year, the US now holds ample copper reserves. Yet, with the risk that refined copper may eventually face Section 232 tariffs, US copper prices continue to trade at a premium to the LME.

JPMorgan also highlighted that stronger Chinese demand could further reshape the market. In prior copper rallies, domestic demand in China weakened, encouraging smelters to export. However, the global investment bank suggests the current fundamental setup appears materially different this time.

Hindustan Copper Q2 earnings

Hindustan Copper last month reported an 81% year-on-year (YoY) surge in its consolidated net profit (attributable to the owners of the company) to ₹183.79 crore in the 2025-26 financial year (Q2Y26).

In the same period last year, it had logged a net profit of ₹101.67 crore, it said in a regulatory filing.

Its revenue from operations advanced 38.6% YoY to ₹718.04 crore during the quarter under review, compared to ₹518.19 crore in the September quarter of the 2024-25 fiscal year (Q2FY25).

As of 9:55 am, Hindustan Copper shares traded 8% higher at ₹512.70, outperforming the NIFTY Metal index which was up 1.55%.