Base metals are showing a significant increase in prices, which has become one of the key trends for the global market in October 2025. The main reason for this positive dynamic is the gradual easing of trade tensions between the United States and China, which precedes a meeting of the leaders of both countries. This factor stimulates trader activity and boosts market participants’ optimism.
This is reported by Finway
Increase in Copper Demand and Production
Copper, which is one of the key indicators for the industry, is trading near its record highs reached in early October. This price increase is partly explained by disruptions in mining operations, which have led to a supply constraint in the market and increased demand. At the same time, BHP Group reported an increase in copper production in the first quarter of the current financial year. Company experts predict that global demand for copper will rise by 70% by 2050.
“Many major global traders are experiencing their most profitable year in history.”
Price Dynamics of Key Metals
In addition to copper, other metals are also showing increases. Zinc futures on the London Metal Exchange rose by 0.4%, reaching $2,991 per ton as of the morning of October 21. Nickel increased in price by 0.2%, while the price of copper rose by 0.1%. Iron ore futures climbed by 1% to $104.55 per ton.
Optimistic sentiments in the market were confirmed by the annual LME Week conference held in London last week. Representatives from trading companies, producers, and consumers of metals noted the high price levels, which are either at historical highs or close to them. Such conditions are providing record profits for leading market players, who are achieving the most successful results in their history.