#1 out of 16
business1d ago
Citi turns bullish on copper with forecast of $15,000 per ton within a year — here's why
- Citi analysts turn bullish on copper for the first time in 2026, forecasting $14,500/ton next month and $15,000/ton in a year.
- Tariff ambiguity on refined copper imports and hopes for Hormuz reopening influence prices.
- Citi expects a supportive physical outlook to offset potential tariff headwinds.
- Copper remains essential for energy transition sectors like EVs, grids, and wind turbines.
- Past drivers include supply disruptions and a weaker U.S. dollar lifting copper.
- Citi notes demand sensitivity to interest rates and end-use consumption.
- Analysts see copper demand linked to electrification, grid expansion, and data centers.
- Citi warns of bearish tail risks from a prolonged Middle East tension scenario.
- Goldman Sachs raised year-end copper targets in the same context of price movements.
Vote 0






