Goldman Sachs(US:GS) Wen Hua Cai Jing·2025-07-16 02:21Group 1 - Goldman Sachs predicts a short-term decline in copper prices due to a surge in imports before the implementation of a 50% tariff on copper in the U.S. on August 1 [1] - The bank has revised its August LME copper price forecast from $10,050 per ton to $9,550 per ton [1] - The recent tariff announcement by President Trump has led to a wave of copper imports as buyers stockpile to mitigate rising costs, temporarily easing supply shortages outside the U.S. [1] Group 2 - Goldman Sachs expects that once the tariffs are implemented, liquidity will significantly slow down, ending supply tightness outside the U.S. and alleviating upward pressure on LME prices [1] - The bank maintains a long-term bullish outlook, projecting a copper price of $9,700 per ton by the end of 2025, citing low inventories outside the U.S. that will take months to replenish post-tariff [1] - The bank also forecasts an average copper price of $10,000 per ton in 2026 and $10,750 per ton in 2027 [2]