Hindustan Copper Shares Soar 6% to 52-Week High on Strong Copper Prices, US GDP

• Hindustan Copper shares surged over 7% to a new 52-week high, driven by robust global copper prices.
• Global copper prices gained after strong US Q3 GDP data boosted demand outlook, showing fastest growth in two years.
• Factors supporting copper prices include a weaker US dollar, anticipated Fed rate cuts, and increased demand from AI and renewable energy.
• Concerns over tighter supply also pushed prices up, with China's top smelters expected to cut production by over 10% by 2026.
• Firm copper prices positively impact producers like Hindustan Copper by improving revenue and margin prospects.

Why It Matters: Hindustan Copper hits 52-week high as strong US economy and supply concerns boost copper prices.