Copper surges to record high: Unpacking the global drivers behind the rally

By Hareesh V – The Economic Times

Copper, the industrial red metal, is making headlines in 2025 as prices in India and across global exchanges surge to record highs. On the Multi Commodity Exchange (MCX), copper futures recently touched ₹976.50/kg, marking a more than 20% rise year-to-date. Similar bullish momentum is evident in the London Metal Exchange (LME), where copper hovers near $10,000/tonne, and in the Shanghai Futures Exchange (SHFE), where prices have climbed over 8% this year.