Antofagasta at the Core of JPMorgan’s Positive Copper Outlook

Antofagasta PLC (LSE: ANTO) has been highlighted as a central holding in JPMorgan’s bullish outlook for the base metals sector, particularly copper, as the global market heads into 2026 and beyond. According to a research note released ahead of the fourth‑quarter earnings season, JPMorgan reaffirmed its “structurally positive” view on copper, driven by strong commodity prices and tightening supply fundamentals. The US bank predicts the global copper market will enter a deficit from 2026, reinforcing copper’s strategic importance in electrification, grid infrastructure investment, and decarbonisation efforts. JPMorgan maintained an “overweight” rating on Antofagasta, forecasting approximately 30% growth in copper volumes by 2029 as key expansion projects advance. JPMorgan also stays overweight on other producers like First Quantum Minerals, which could benefit from the potential restart of the Cobre Panamá mine, and sees positive catalysts for Norsk Hydro ahead of its pricing guidance. The bank’s preference remains with base metals producers with clear medium‑term growth and improving valuations. #CopperMarket #Antofagasta #JPMorganOutlook #BaseMetals #SlimScan #GrowthStocks #CANSLIM