Copper, aluminum, and zinc prices have surged, here’s the latest rates

New Delhi: Gold and silver prices have surprised many this year. Gold prices initially rose, but have now declined since Diwali. Consumers are pleased with the decline in metals like gold and silver. Meanwhile, supply shortages, rising industrial demand, and a weak dollar are driving a sharp increase in base metal prices.

Copper and aluminium prices have risen 8 per cent in the past month. Zinc has increased by nearly a per cent. Spot copper prices on the London Metal Exchange have reached a new all-time high of $11,097 per metric toAluminiumnum and zinc are trading near record highs in both global and domestic markets.

Why the Price Rise

It’s surprising to know that the price increase is due to the closure of Freeport McMoran, a major copper mine in Indonesia. This mine produces approximately thper cent of the world’s annual copper. Operations are expected to resume in 2026. But full production is only expected after 2027. Chile’s Codelco has warned that its El Teniente mine will produce below capacity for several months, potentially leading to a global copper supply shortage.

Furthermore, according to Bhavik Patel, senior commodity specialist at Tradebulls Securities, a 600,000 metric ton shortage of the red metal is expected in 2026. Furthermore, demand for base metals is expected to increase amid the growing adoption of green energy and electric vehicles. There has been a structural shift in the demand for “green metals,” driving strong growth in copper and aluminum, key input resources.

Industrial Demand

Demand for base metals is increasing amid growing demand for green energy and electric vehicles. There has been a structural shift in the demand for green metals, driving strong growth in copper and aluminum, key input resources. This growth is driven by the acceleration of green energy initiatives, global infrastructure projects, and the continued demand for electric vehicles and solar energy in China, according to Makada.

Main Reasons for the Rise

A weak dollar is also a major contributor to the rise in commodity prices. Most of these metals are traded in US dollars on exchanges like the LME and Comex. As a result, there is an inverse relationship. Foreign buyers pay less in their local currency to buy dollars, effectively paying a lower price for the metals.