New Delhi, Sept. 10 -- A growing mismatch between global copper mining and smelting capacity, tightening mine supply and shifting inventories, have pushed copper prices to unprecedented levels, the Indian Primary Copper Producers Association (IPCPA) said.

Copper prices on the London Metal Exchange (LME) touched a record USD 14,737 per tonne in September 2026, marking an increase of nearly 50 per cent over the past year. According to IPCPA, the rally has been driven by US tariff expectations, tightening mine supply and significant shifts in global copper inventories.

IPCPA said, "Since the beginning of the year, hundreds of thousands of tonnes of copper have been shipped to the United States to capitalise on the premium between Comex and...