Base Metals Update

Advisory Bazaar Info Services

Copper (October) – Copper prices are likely to remain on a firm path, trading in the 995–1010 range. On Thursday, copper reached $11,000 per metric ton, the highest level in over 16 months. Widespread disruptions at mines have raised supply concerns, attracting speculative inflows.

Aluminium – Aluminium may trade in a mixed range of 262–267. Prices surged 2% to $2,807.50, marking the highest level since June 2022, and closed at $2,802.

Lead – Lead is expected to trade in a mixed range of 182–187.

Zinc – Zinc is likely to maintain an upward trend, trading in the 292–297 range.

Note: Copper has gained over 21% so far in 2025, driven by strong demand, a weaker dollar, and falling interest rates. Additionally, incidents such as the recent mudslide at Indonesia’s Grasberg mine and other key mines have further supported this rally.