Base Metal Update

Advisory Bazaar Info Services

• Copper (October): Copper prices are expected to trade on a volatile path, likely remaining in the range of 985–1000. The market is facing an uncertain period of transformation due to increased consumption across multiple industries.

• Aluminium: Prices may follow a mixed trend and trade within the range of 264–270. Aluminium prices have been steadily rising throughout the year and recently reached their highest level on the LME.

• Lead: Prices are expected to trade mixed, in the range of 176–185.

• Zinc: Prices may trend upwards, likely trading in the range of 285–295.

• LME Warehouse Stocks: Stocks, which had temporarily increased, have now fallen below 500,000 tons. This level is concerning, especially as nearly half of the remaining inventory is aluminium of restricted Russian origin.

• Global Outlook: The European Union is pressuring to remove tariffs on US steel derivatives, while the US plans to impose new import duties on certain products.