Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

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Copper: Fly Me To The Moon, Onwards To 13,000 USD/Ton

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>A confluence of a weakening dollar, lacklustre supply growth, and tailwinds from the demand narrative led copper to break 12k USD/ton by year-end.</li>
<li>The situation has been exacerbated by stockpiling in the US due to an impending 15% tariff on copper effective January 2027, resulting in "economically trapped" inventory. </li>
<li>We remain bullish on copper and expect 2026 to be another tight year, with prices potentially breaching 13k USD/ton. </li>
</ul>


A confluence of a weakening dollar, lacklustre supply growth, and tailwinds from the demand narrative led copper to break 12k USD/ton by year-end.
The situation has been exacerbated by stockpiling in the US due to an impending 15% tariff on copper effective January 2027, resulting in "economically trapped" inventory. 
We remain bullish on copper and expect 2026 to be another tight year, with prices potentially breaching 13k USD/ton. 


Copper Breaks 12k USD/Ton: Move To 13k USD/Ton By Early Next Year