en.Wedoany.com Reported - Copper cathode prices in western India rose week-on-week in the week ending June 4, 2026, driven by higher global copper prices, with Mumbai delivery prices climbing to approximately 1,377,000 rupees per ton, compared to around 1,325,000 rupees per ton the previous week. Prices in Ahmedabad increased from about 1,327,000 rupees per ton to 1,380,000 rupees per ton.

This price uptrend coincided with rising copper prices on the London Metal Exchange (LME) and the Multi Commodity Exchange (MCX). LME copper prices rose from around $13,570 per ton last week to approximately $13,710 per ton, while MCX copper prices increased from about 1,320 rupees per kilogram to around 1,365 rupees per kilogram. Domestic cathode copper prices adjusted in line with these benchmarks.

Import activity remained active. Japanese-origin cathode copper was reportedly offered to India at a premium of around $300 per ton over the LME benchmark. Traders indicated that several major buyers were sourcing overseas cathode copper from Japan, Singapore, and other Asian hubs to secure short-term supplies amid tightening regional availability. Market participants noted growing interest in cathode copper from the Democratic Republic of Congo and Zambia, as buyers sought to diversify procurement sources and manage supply risks.

Globally, stronger US copper premiums have influenced Asian trade flows. Due to significantly higher US premiums, South American cathode copper is being diverted to the US market, reducing the availability of cost-effective supplies for Asian buyers, which indirectly supports cathode premiums in Asia, including India.

Tightening LME visible copper inventories and a narrowing cash-to-three-month spread have further reinforced bullish sentiment in the refined copper market. Market participants believe that if US tariff uncertainties persist and Chinese demand remains robust, Indian cathode premiums could stay elevated in the near term. Traders noted that ongoing uncertainty over potential Section 232 tariffs has driven more global copper supplies to the US, keeping Asian cathode premiums strong, reducing spot availability in Asia and Europe, and limiting the inflow of low-priced offers into India.

Market participants also indicated that higher sulfuric acid prices have supported the profitability of Chinese smelters, reducing the likelihood of production cuts. Although China's refined copper output remains substantial, strong domestic demand is absorbing most of the available cathode copper.

Looking ahead, Asian cathode premiums are expected to remain firm as more global copper continues to flow to the US market. Strong Chinese domestic demand and normal smelter operations may keep regional supply tight. Indian cathode copper demand is likely to remain stable, but high LME prices may limit aggressive spot purchases by smaller consumers.

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