Bullish, not breathless: analysts temper base metals calls

From KITCO News

It should come as no great surprise that copper is the analyst pick for best-performing base metal in 2026.

Not only does the red metal play a starring role in both the energy transition and the artificial intelligence narratives, it is also a market facing structural supply challenges.

The same can be said of both tin and aluminum, the other two bull stand-outs in the latest Reuters poll.

But there’s also a clear consensus that January’s explosive price rallies, which saw London Metal Exchange (LME) copper hit an all-time high of $14,527.50 per metric ton and tin an equally unprecedented $59,040 per ton, are unsustainable.