On March 10, 2026, copper prices in Pakistan remained steady, reflecting ongoing trends in both local and international markets. High-quality Millberry scrap copper, a widely traded grade, is currently valued at around Rs. 5,500 per kilogram across major urban centers such as Karachi, Lahore, Islamabad, and Gujranwala. This price stability is significant given the metal’s critical role in various industrial sectors and the fluctuating global commodity landscape.
Meanwhile, refined new copper commands a premium price, with rates ranging between Rs. 5,800 and upwards of Rs. 6,200 per kilogram. These variations depend largely on factors such as the purity of the copper, the supplier’s credibility, and the specific location of the transaction. The premium pricing for refined copper underscores its higher quality and suitability for specialized industrial applications, particularly in electrical and construction sectors where material standards are stringent.
On the international front, copper prices have experienced a notable rebound. The London Metal Exchange (LME) benchmark for copper has climbed to approximately $5.86 to $5.94 per pound, translating to roughly $12,900 to $13,000 per tonne. This marks an increase of about 1 to 1.8 percent compared to the previous trading session. Several factors have contributed to this upward movement, including a weakening US dollar, which tends to make commodities priced in dollars more attractive to foreign buyers. Additionally, opportunistic buying by Chinese manufacturers following recent price dips has added upward pressure. Persistent concerns over supply constraints, particularly related to smelter refining charges and concentrate shortages, have further supported the price rally.
Locally, copper prices carry a premium influenced by multiple cost drivers. Import duties, transportation and logistics expenses, applicable taxes, and the ongoing demand from Pakistan’s electrical and construction industries all play a role in shaping the market rates. The current exchange rate of approximately 279 to 280 Pakistani Rupees against the US dollar also affects the final price, as international copper prices are converted into local currency before additional markups are applied. This complex interplay of factors ensures that copper remains a closely watched commodity within Pakistan’s industrial ecosystem.
Looking at the broader market, the 30-day performance of copper prices has seen a slight decline of around 1 to 1.8 percent, reflecting short-term market corrections and seasonal factors such as holiday slowdowns. However, year-on-year comparisons reveal a robust increase of approximately 23 to 24 percent, highlighting the metal’s strong long-term demand. Analysts predict that copper prices could average around $5.70 per pound by the end of the current quarter, with expectations of climbing to nearly $6.42 per pound within the next twelve months. These forecasts are driven by the ongoing global transition towards electric vehicles (EVs), renewable energy infrastructure, and expanding data center capacities, all of which require substantial copper inputs.
Copper’s significance in 2026 cannot be overstated. Often referred to as “Dr. Copper,” the metal is considered a barometer of global economic health due to its widespread use in manufacturing and infrastructure development. Rising copper prices generally indicate strong industrial activity and investment in sectors like green energy, construction, and technology. In Pakistan, fluctuations in copper costs directly impact the pricing of electrical wiring, construction materials, solar panel installations, and the scrap recycling industry. The metal’s pivotal role in powering the energy transition ensures sustained demand despite short-term market volatility.
The demand for copper is driven by its exceptional properties, including high electrical conductivity, resistance to corrosion, and excellent recyclability. These characteristics make it indispensable across a variety of industries. Electrical wiring and power cables in residential, commercial, and industrial settings rely heavily on copper. The electric vehicle sector, in particular, has emerged as a major consumer, with EVs requiring significantly more copper than traditional vehicles, especially in motors, batteries, and charging infrastructure. Renewable energy projects such as solar farms and wind turbines also depend on copper for efficient energy transmission and storage solutions. Moreover, the rapid expansion of electronics, 5G networks, and AI-powered data centers further fuels copper consumption through the need for advanced cabling and circuit components.
It is also noteworthy that approximately 80 percent of all copper ever mined remains in use today, thanks to its high recyclability. This recycling capability helps stabilize supply chains and mitigate the impact of mining constraints, even as demand continues to rise globally. This balance between supply and demand is crucial for maintaining price stability in the long term.
In summary, the copper market in Pakistan on March 10, 2026, reflects a stable yet dynamic environment. High-quality Millberry scrap copper holds firm at Rs. 5,500 per kilogram, while refined copper prices remain elevated due to quality and purity considerations. Internationally, copper prices are on an upward trajectory, supported by a weaker dollar, strategic buying in China, and ongoing supply challenges. Given copper’s central role in modern industry and the global shift toward sustainable energy, its market will likely continue to experience significant activity and price movements throughout the year.
