“Usually in the cycles … after gold, copper follows. That’s just the way it is. That could be a rotation from safety to more industrial. And so I see probably the bigger performers (in 2026) are going to be in that.”
OMAR AYALES
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Base Metals Outlook Report
Key factors driving copper, zinc and key base metals prices
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Top performing base metals stocks and sectors to keep on your radar
Copper, nickel, zinc, iron ore and lead play an essential role in industrial and economic growth, especially within the context of increased global defense spending, electrification and the global energy transition.
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What's inside:
Volatility has defined the base metals market in 2025, but commodities within the base metals complex are facing different pathways in 2026.
Analysts see a rare positioning opportunity, with the potential to reset valuations as supply tightens and demand accelerates.
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2026 Base Metals Outlook Report