While demand trends in the domestic market for metals have remained strong in FY24, prices have moderated in the international market. The London Metal Exchange Index fell for the second consecutive year shedding 6 per cent in FY24. Most base metals, except tin, have ended lower in the last two years.
Says Gnanasekar Thiagarajan, director, Commtrendz Research, a leading metal consulting firm, “Metals are still struggling to find momentum due to poor demand barring copper. However, speculative funds are building longs now on all dips in copper (bellwether for metals demand) as they are convinced about the supply deficit and the