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

Copper Production Disappointments Mount With Antofagasta (ANTO LN) Guidedown, Bullish To 12k USD/Ton

Southern Copper (SCCO US): Summary of The Copper To 12,000 USD/Ton and Beyond Thesis In Two Slides

Antofagasta (ANTO LN) H1 2025: Outperforming The Pack

Comex-LME Trade Back In The Spotlight, Spread To Widen Again

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>The trend of stockpiling in the US has continued, and copper inventories in warehouses surged to over 436,000 tons. Inventories at the seven COMEX warehouses have more than tripled YTD. </li>
<li>
<a href="https://www.smartkarma.com/insights/copper-production-disappointments-mount-with-antofagasta-anto-ln-guidedown-bullish-to-12k-usd-ton" target="_blank" data-smartkarma-citation="insights:207347" rel="noopener">Copper Production Disappointments Mount With Antofagasta (ANTO LN) Guidedown, Bullish To 12k USD/Ton</a> supply issues detailed provide the perfect confluence for copper to breach 13,000 USD/ton by early 2026. </li>
<li>As copper has recently surpassed 11,500 USD/ton, we pick <a href="https://www.smartkarma.com/entities/southern-copper-corp" target="_blank" data-smartkarma-citation="entities:16279:1" rel="noopener">Southern Copper (SCCO US)</a> and <a href="https://www.smartkarma.com/entities/antofagasta-plc" target="_blank" data-smartkarma-citation="entities:21814:1" rel="noopener">Antofagasta PLC (ANTO LN)</a> as our top equities to play the copper run.</li>
</ul>


The trend of stockpiling in the US has continued, and copper inventories in warehouses surged to over 436,000 tons. Inventories at the seven COMEX warehouses have more than tripled YTD. 

Copper Production Disappointments Mount With Antofagasta (ANTO LN) Guidedown, Bullish To 12k USD/Ton supply issues detailed provide the perfect confluence for copper to breach 13,000 USD/ton by early 2026. 
As copper has recently surpassed 11,500 USD/ton, we pick Southern Copper (SCCO US) and Antofagasta PLC (ANTO LN) as our top equities to play the copper run.


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