Metal Demand Expectations Boosted by Tariff Easing, Says Nirmal Bang
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Tariff Easing Boosts Metal Demand, Copper Prices Poised for Surge: Nirmal Bang
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CNBC TV18•25-02-2026, 15:49
Tariff Easing Boosts Metal Demand, Copper Prices Poised for Surge: Nirmal Bang
•Nirmal Bang's Kunal Shah notes tariff adjustments improve outlook for commodity-consuming economies, especially China, leading to stronger demand expectations.
•Massive restocking across the metals market is supporting industrial commodity prices due to improved demand visibility.
•Emerging tech trends like EVs, renewable energy, and AI data centers are major demand drivers for copper, potentially increasing consumption by 3-3.5 million tonnes in three years.
•Shah revises long-term copper price target to $16,500–$17,000 per tonne, citing bullish fundamentals with concentrated supply and rising demand.
•Aluminium prices could reach $3,000 per tonne base, with potential upside to $3,400–$3,500 due to tightening supply; silver needs new industrial demand triggers for a sustained rally.
