Copper’s record rally highlights global mining-smelting mismatch, IPCPA says

NEW DELHI, Sep 10: A growing mismatch between global copper mining and smelting capacity is adding to supply pressures and helping drive copper prices to record levels, the Indian Primary Copper Producers Association (IPCPA) said. Copper prices on the London Metal Exchange touched a record USD 14,737 a tonne in September 2026, up nearly 50 per cent over the past year, as expectations of US tariffs, tighter mine supply and sharp shifts in global inventories reshape the market, the association said. Hundreds of thousands of tonnes of copper have been shipped to the United States since the start of the year to take advantage of the price premiu…