Metal Firms May See Choppy Prices Amid Global Uncertainties

A string of geopolitical events have sent the global commodity market into a tizzy, with uncertainties looming over demand-supply and price forecasts.

- AMRITHA PILLAY

Amid this, India's metal industry is expected to have steady supplies, but choppy price realizations, say industry executives and analysts.

With multiple countries announcing import tariffs, focusing on increasing domestic production or planning export bans on ores, raw material security and price forecasts take center stage for Indian metal makers.

Brokerage firm JP Morgan expects the global deficit in refined copper to grow to 160,000 metric tonnes in 2026, reported news agencies this month. However, domestic industry sources expect this deficit to play out differently in the Indian context.

Analysts with India Ratings, in a media call on Tuesday, said they expect India's copper deficit to reduce with a new firm—Adani's Kutch Copper—starting operations in the last financial year.