Motilal Oswal Predicts Copper Price Stabilization, Silver Range-Bound

• Motilal Oswal's Navneet Damani expects copper prices to stabilize or decline, while silver may remain range-bound.
• Copper's recent surge was primarily due to supply disruptions, not a global shortage, with prices rising from $8,000 to nearly $14,000 per metric ton.
• Damani believes sufficient copper is available globally, and prices could correct in 2-6 months if supply normalizes after June 2026.
• For copper, $11,500 to $12,000 per metric ton is seen as a potential lower range, with higher levels requiring a strong silver rally or Dollar Index decline.
• Silver's rally was momentum-driven; its future movement depends on the dollar, with a broad range of $65 to $95 per ounce expected.