DBT Bureau
Pune, 23 Feb 2026
Copper inventories across the world’s three largest metal exchanges have surpassed 1 million metric tonnes for the first time in over 20 years, driven by weak demand in China and recent stockpiling in the U.S. Combined stocks on the COMEX, LME, and SHFE now stand at 1,012,065 MT.
Accorinding to Goldman Sachs Research, as the copper buyers significantly increased due to strong artificial intelligence (AI)-related demand from the construction of data centers, which use copper in cooling and power distribution , copper prices will be upward treand.
Indian copper stocks delivered a strong performance last month, supported by firm global prices and improving demand sentiment. The rally was further influenced by developments in China, where refined copper output surged and concentrate imports touched record highs, signaling robust supply activity. While higher Chinese output may introduce short-term volatility, investors appear focused on sustained demand growth, particularly from infrastructure and AI-linked sectors.
On Friday, 20 February, key Indian copper stocks closed higher. Hindustan Copper Ltd settled at ₹568.90, up ₹5.25 (0.93%). Hindalco Industries Ltd closed at ₹934.75, gaining ₹29.10 (3.21%), while Vedanta Ltd ended the session at ₹682.20, rising ₹6.05 (0.89%).
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