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What will 2026 bring for base metals prices?
Most base metals have been in strong uptrends through 2025, since the April Liberation Day sell-off. The exceptions have been lead and nickel that have tended to trade sideways since the initial recovery off the April lows. All the metals retreated in mid-November on the back of a rout in US equities. That was triggered by concerns about an AI bubble, which turned out to be short-lived. Copper ended November 2025 at a record high, with tin at a multi-year high – both due to supply concerns. The global economic climate is subdued, but markets are finding buoyancy on the expectation that the Fed will cut rates again ... (full story)
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- Dec 12, 2025 12:20pm Posted byFundamental Analysis238
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