📌 BASE METALS UPDATE

Advisory Bazaar Info Services

🔹 Copper (Jan)

Copper prices may trade with a mixed bias.

👉 Expected range: 1270 – 1310

Copper settled 1.01% higher at 1302.5, supported by a weaker US dollar and President Donald Trump’s tariff threats against Europe.

Copper stocks in LME warehouses have declined by 22% to a six-month low, as large volumes of metal are being shipped to the US ahead of potential tariffs.

🔹 Aluminium (Jan)

Prices are likely to trade with a positive bias.

👉 Range: 312 – 320

🔹 Lead (Jan)

Volatile trading is expected.

👉 Range: 185 – 192

🔹 Zinc (Jan)

An unstable trend may persist.

👉 Range: 308 – 314

Prices have also found support from disruptions in the mining sector.

Production has declined at Codelco and BHP’s Escondida mine, although Chile’s overall copper output is expected to increase in 2026.