The price of copper metal is expected to soar to $11,700 per metric tonne as structural demand growth of the metal meets a constrained supply, according to a report on Friday.

Copper prices dipped 0.32 per cent after a surge of over 5 per cent following a mudflow at Freeport-McMoRan’s Grasberg mine in Indonesia, the second-largest copper mine in the world.

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MCX copper futures for September expiry reached Rs 950, while London Metal Exchange futures rose to approximately $10,300 per metric tonne on Thursday.

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attributed this surge to a 3–4 per cent loss in anticipated global mined copper output from Grasberg, equating to over 2,50,000 tonnes removed from 2025 production.

Analysts said that the copper prices have soared almost 20 per cent this year on tightening supp

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