On March 28, 2026, the price of copper in Pakistan shows varied rates depending on quality and type. High-quality Millberry scrap copper is trading around Rs. 5,500 per kilogram in major cities such as Karachi, Lahore, Islamabad, and Gujranwala. Refined new copper commands a premium, with prices typically between Rs. 5,800 and over Rs. 6,200 per kilogram, influenced by purity levels, suppliers, and location. Standard or mixed copper scrap prices fluctuate widely, ranging from Rs. 2,100 to Rs. 3,500 per kilogram.
Meanwhile, international copper prices have experienced a slight decline in recent sessions. The benchmark price currently stands near $5.44 per pound, equivalent to approximately $12,195 per tonne on the London Metal Exchange (LME). This marks a 0.27% drop in the latest trading session and a 7.78% decrease over the past month. Despite this short-term softness, prices remain about 6.79% higher compared to the same period last year.
In a significant development, the recent correction follows a strong rally earlier in 2026, when copper prices reached record highs close to $6.58 per pound in January. Market analysts project copper to trade around $5.49 per pound by the end of this quarter and anticipate a rise to approximately $6.23 within the next 12 months. These forecasts are supported by solid long-term fundamentals despite the current price dip.
Copper, often referred to as “Dr. Copper,” is regarded as a key indicator of global industrial and economic health. Rising copper prices generally reflect strong manufacturing activity, infrastructure investments, and growth in green energy sectors. The recent price pullback follows earlier gains driven by supply concerns, but long-term demand remains robust due to factors such as electric vehicles, renewable energy, battery storage, data centers, and power grid modernization.
In Pakistan, fluctuations in copper prices have a direct impact on the costs of electrical wiring, cables, construction projects, solar and renewable energy installations, as well as the profitability of scrap recycling businesses. The metal’s crucial role in the global energy transition ensures sustained demand moving forward.
Copper’s exceptional electrical conductivity, resistance to corrosion, and recyclability make it indispensable across multiple industries. It is a fundamental component in electrical wiring, power cables, motors, and transformers used in residential, commercial, and industrial settings. The electric vehicle industry significantly drives new demand, as EVs require substantially more copper than traditional vehicles, particularly in motors, batteries, and charging infrastructure.
Renewable energy projects also rely heavily on copper for connections in solar panels, wind turbines, and energy storage systems. In construction, copper is used for durable plumbing pipes, roofing materials, and antimicrobial fittings. Additionally, the expansion of electronics, 5G networks, and AI data centers boosts copper consumption through the need for high-speed cabling and circuit boards.
Notably, around 80% of all copper ever mined remains in use today due to its excellent recyclability, which helps maintain supply stability as demand continues to grow globally.
