Global Materials | Industrials | Commodities

Rahul Jain

Over 20 years of sell-side research experience across Global Metals & Mining, Cement, Industrials, and Commodities. Extensive first-hand mine and plant visits spanning India, Australia, China, the US, and the UK.
Hundreds of buy-side engagements across major global financial hubs in Asia, North America, and Europe. Also led a comprehensive client tour of China to deepen industry understanding.

Focused on fundamentals-driven analysis including earnings modeling, cost structures, and valuations using DCF and relative multiples. Global commodity cycles, supply-demand trends, and macro factors are integrated into sector calls. Research prioritizes inflection points from price, cost, and policy shifts, using a disciplined bottom-up approach supported by top-down macro screening.

Commodities

<ul>
<li>U.S. Copper Market Gap: 1.3 Mt refined copper supply gap due to limited 0.4 Mt refining capacity against 1.7 Mt demand, despite 1.1 Mt mined ore.</li>
<li>Impact on Market and Users: 50% tariff may raise prices 15–25%, adding $200–400/vehicle and 3–5% construction costs, while boosting refining investment.</li>
<li>Way Forward: Expand refining capacity, streamline permitting, and ensure policy stability to process exported ore and cut import reliance by 2030.</li>
</ul>


U.S. Copper Market Gap: 1.3 Mt refined copper supply gap due to limited 0.4 Mt refining capacity against 1.7 Mt demand, despite 1.1 Mt mined ore.
Impact on Market and Users: 50% tariff may raise prices 15–25%, adding $200–400/vehicle and 3–5% construction costs, while boosting refining investment.
Way Forward: Expand refining capacity, streamline permitting, and ensure policy stability to process exported ore and cut import reliance by 2030.


U.S. Copper: Tariff Impact & Refining Expansion Opportunities