Domestic copper rates in Pakistan remain steady on Friday, supported by robust industrial demand and firm international benchmarks on the London Metal Exchange. High-quality Millberry copper scrap, the key benchmark for recycled metals, is trading at approximately Rs5,500 per kilogram. This grade is highly sought after by local recycling units due to its minimal contamination and high melting efficiency.
Refined new copper, essential for specialized manufacturing and high-grade electrical work, commands a premium of Rs5,800 to Rs6,200 per kilogram, depending on supplier networks and purity levels. For commercial projects on tight budgets, mixed copper scrap offers a cheaper alternative, ranging from Rs2,100 to Rs3,500 per kilogram. This variability depends on the percentage of clean metal, presence of insulation, and warehouse location.
Major trading hubs such as Karachi’s Shershah Market and Lahore’s Misri Shah network set the nationwide baseline due to high volume. Inland cities like Islamabad, Gujranwala, and Peshawar may add minor premiums to cover freight costs.
Internationally, copper continues to perform strongly. The spot price settled near $6.43 per pound, translating to roughly $13,603 per metric tonne on the London Metal Exchange. This marks a recovery from a 3.14% dip earlier in the month, with a daily advance of about 2.7% as global industrial buyers re-enter the market. Over the past year, prices are up more than 35%, driven by supply deficits and stockpiling ahead of tariff decisions.
Using an interbank exchange rate of around Rs280 per US dollar, the raw international value converts to roughly Rs3,950 to Rs4,000 per kilogram. However, after accounting for ocean freight, customs duties, domestic transport, and handling margins, local processed copper commands a premium over the global spot price. The metal, often called “Dr. Copper” for its ability to gauge economic health, is experiencing strong demand from clean energy infrastructure, solar and wind projects, and the shift to electric vehicles.
Source: ARY News