Today, February 6, 2026, copper prices are experiencing a moderate pullback following a period of extreme volatility and record-highs reached in late January.
Here is a summary of the current market news and rates to help you update your audience:
Copper Market Summary (Feb 6, 2026)
• Global LME Price: Trading around $12,903/ton (approx. $5.72/lb), down about 1.1% to 1.7% today.
• India MCX Price: Copper futures for February are trading near ₹1,224/kg, showing a decline of about 1.6% from the previous session.
• Local Nashik Rates: While prices at CR1 ELECMET vary based on specific products (like strips, plates, or wires), current market trends suggest a retail cooling-off period after the recent peak of ₹1,480/kg.
Why are prices falling?
1. Profit Taking: After a historic rally in late 2025 and January 2026, investors are selling to lock in gains.
2. Strong US Dollar: The nomination of Kevin Warsh as the next Fed Chair has boosted the USD, making copper more expensive for international buyers.
3. Rising Stockpiles: Copper inventories in LME warehouses, particularly in Asia, have hit their highest levels since last March, easing supply fears.
4. Hindustan Copper Results: The market is closely watching Hindustan Copper, which reports its Q3 FY26 results today. Analysts expect a drop in profit despite higher revenues.
