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Volatility could roil base metal markets in 2025; analysts favour copper, tin amid energy transition

Potential headwinds include stronger US dollar, escalating trade tensions and China’s economic momentum

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Mia Pei

Mia Pei

Published Thu, Dec 12, 2024 · 05:00 AM
    • Unlike other metals such as nickel, cobalt and lithium – which have their fortunes mainly tied to electric vehicle batteries – copper has a wider role in the green transition, says Marex's Edward Meir.
    • Unlike other metals such as nickel, cobalt and lithium – which have their fortunes mainly tied to electric vehicle batteries – copper has a wider role in the green transition, says Marex's Edward Meir. PHOTO: BT FILE

    BASE metal prices have been lifted this year by robust market fundamentals and a rise in green sentiment. But market watchers warn that the potential of a stronger US dollar and escalating trade tensions as Donald Trump returns to the White House could weigh on the market in 2025.

    Base metals, in general, have touched new highs in 2024.

    Through Dec 10, London Metal Exchange-listed tin and zinc have climbed about 17 per cent, followed by aluminium (9.4 per cent) and copper (7.7 per cent). Lead has traded relatively flat so far this year, while nickel is the only metal down.

    Market outlookInvestment outlookcopperLondon Metal ExchangeMetalsenergy transition

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