Copper Prices Show Bullish Potential Amid Easing Tensions and Demand Growth
Commodity Radar: Why is copper in a bullish trade set-up and offers buy on dips opportunity? Religare analyst decodes
The Economic Times
Image: The Economic Times
Copper prices are rebounding due to easing geopolitical tensions and improved demand indicators. After a sell-off linked to the Strait of Hormuz blockade, April futures on the Multi Commodity Exchange (MCX) rose by 1.7% to ₹1,290.60. Analysts suggest a buy-on-dips strategy, targeting ₹1,320-1,330.
- 01Copper prices are recovering from a recent sell-off linked to geopolitical tensions.
- 02April copper futures on the MCX increased by 1.7%, reaching ₹1,290.60.
- 03Analysts predict a bullish outlook for copper driven by improving demand signals.
- 04Rising inventories on the London Metal Exchange may limit short-term price gains.
- 05A buy-on-dips strategy is recommended, with a target of ₹1,320-1,330.
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Copper prices are showing signs of recovery as geopolitical tensions ease and demand indicators improve. Following a significant sell-off due to the Strait of Hormuz blockade, April copper futures on the Multi Commodity Exchange (MCX) rose by 1.7% to ₹1,290.60. Analysts, including Ajit Mishra from Religare Broking, suggest that the outlook for copper is bullish, supported by expectations of U.S.–Iran peace talks and softer inflation data from China, which indicated a year-on-year increase of 1.0% in the Consumer Price Index for March 2026. Despite this positive sentiment, rising inventories on the London Metal Exchange may cap significant price increases in the short term. Technical indicators suggest a buy-on-dips strategy, with prices expected to target ₹1,320-1,330 while maintaining a stop loss below ₹1,245.
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The recovery in copper prices may lead to increased investment in related sectors and potentially stabilize prices for consumers of copper-based products.
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