Base Metal Update

Advisory Bazaar Info Services

• Copper: Prices may trade in a volatile range of 887–898. Strong demand from data centers could accelerate a potential supply shortage in the global copper market in the second half of this decade, with the shortfall likely reaching around 6 million tons by 2035.

• Aluminum: Prices may remain strong within the 250–256 range.

• Lead: Likely to trade in the 178–183 range.

• Zinc: Expected to trade between 255–275.

• Demand Outlook: Annual copper demand from new data centers is estimated to average around 400,000 metric tons over the next decade, peaking at 572,000 tons in 2028.