India’s cable and wire industry is expected to achieve around 30% revenue growth in the coming fiscal year, supported by infrastructure investment, manufacturing expansion, and construction activity. Industry groups said higher copper and aluminum prices are increasing costs but also lifting selling prices. Continued investments in grid modernization and renewable energy are expected to drive stronger copper consumption. Analysts see India emerging as a major contributor to global copper demand growth.

CopperTech Metals filed for a U.S. IPO on June 2 as it seeks to benefit from rising global copper demand. The company, formed around Vedanta’s Konkola Copper Mines operations in Zambia, reported revenue of $1.33 billion for fiscal 2026, up sharply from $398 million a year earlier. CopperTech said IPO proceeds will support production expansion and exploration activities tied to growing demand from AI data centers, energy transition projects, and defense industries. Investors increasingly see future copper supply as a strategic growth theme.

Teck Resources warned that rising diesel and freight costs could increase spending at its Chilean copper mining operations during Q2, as global supply tightened. The Canadian mining company said its Chilean operations relied on imported diesel and faced higher fuel and transportation costs due to supply disruptions related to the Strait of Hormuz, although no severe shortages were expected. "We expect freight costs to continue rising in Q2 2026, with explosives costs also increasing accordingly. We will continue to closely monitor developments, such as potential product export bans by major supplying countries, which could further disrupt the market," the company said. The warning highlighted broader supply chain pressures and the risk that government intervention could tighten metals markets, potentially prompting enterprises and strategic stockpiling of copper and zinc as demand strengthened. Alongside the cost warning, the company reported strong Q1 results that exceeded analyst expectations. This was primarily driven by higher copper prices, record sales, and increased production at its flagship mine, Quebrada Blanca (QB), in northern Chile. Production at the newly expanded mine grew 31.2% to 55,500 mt, compared with just 42,300 mt a year earlier when output was constrained by prolonged shutdowns. Despite a maintenance shutdown at the start of the year, performance remained on par with the previous quarter. Total copper production in Q1 reached 140,000 mt, compared with 106,100 mt in the same period last year. The company still plans to produce 455,000 to 530,000 mt in 2026 and 505,000 to 580,000 mt in 2027, while 2025 production is expected to be 453,500 mt, with the QB project expected to contribute 200,000 to 235,000 mt next year. Driven by growing power demand from data centers, artificial intelligence, and national defense, as well as expanding investment in power grid and electronic infrastructure, global copper demand is expected to surge 50% by 2040, benefiting Teck and its peers. Concentrates zinc production fell to 120,300 mt, a decrease of 17,000 mt from the same period last year. (Wenhua Consolidated)

Australian mining company BHP has outlined a global pipeline of copper projects that could expand its production capacity by 1.8–2 million tonnes over the next decade, in response to rising global demand. BHP also projects that global copper demand will increase from approximately 34 million tonnes per year in 2026 to more than 50 million tonnes by 2050.

SMM Morning Meeting Summary: Overnight, LME copper opened at $11,816/mt. After dipping to $11,798/mt in early trading, its center rose sharply to a high of $12,395/mt, then hovered at highs, and finally closed at $12,221/mt, up 3.27%. Trading volume reached 52,000 lots, and open interest stood at 292,000 lots, down 944 lots from the previous trading day, mainly reflecting bears cutting positions overall. Overnight, the most-traded SHFE copper 2605 contract opened at 95,010 yuan/mt. After the opening, its center moved higher to a high of 95,900 yuan/mt, after which copper prices maintained a fluctuating trend at highs. Near the close, it dipped to 94,530 yuan/mt and finally closed at 93,840 yuan/mt, up 2.12%. Trading volume reached 120,000 lots, and open interest stood at 198,000 lots, down 6,741 lots from the previous trading day, mainly reflecting bears cutting positions throughout the day.

LONDON/SYDNEY, Jan 8 (Reuters) - Glencore (GLEN.L), opens new tab and Rio Tinto (RIO.L), opens new tab said late on Thursday they were in early buyout talks that could potentially create the world's largest mining company with a combined market value of nearly $207 billion.