Base Metals Update

Advisory Bazaar Info Services

In the base metals counter, Copper (October) prices are expected to trade on a firm note and may move within the range of 1000–1010. Copper prices surged to a 16-month high in London after Teck Resources lowered its 2025 copper production guidance due to persistent setbacks at its Quebrada Blanca (QB) mine in Chile and the Highland Valley Copper (HVC) operation in Canada.

So far this year, copper prices have risen by around 23%, as supply concerns continue to persist despite weak demand from major industrial economies.

Supply worries intensified further after Freeport-McMoRan (NYSE: FCX) declared force majeure on shipments from its Grasberg mine in Papua, Indonesia—the world’s second-largest copper mine—following severe flooding that halted production.

Aluminium prices may trade on a mixed note within the range of 263–268.

Lead prices are also likely to remain mixed and move in the range of 182–187, while Zinc may maintain a bullish bias, trading between 293–297.