Copper up 40 pc globally in FY26; H1 FY27 forecast at $11,000-$12,000 per tonne

Mumbai, Feb 6 Global copper prices have surged nearly 40 per cent this fiscal (FY26), reaching around $13,000 per tonne by January 2026, driven by persistent mine-side supply disruptions, declining ore grades and inventory dislocations across exchanges, a report said on Friday. Ratings agency ICRA said in the report that tight supply conditions outside the United States and uncertainty around tariffs are expected to support prices in the range of $11,000–12,000 per tonne in H1 FY27. However, it maintained that potential downside risks for copper prices cannot be ruled out in FY 27. Copper market will remain in deficit through…