Most of copper's rally has happened, Goldman Sachs says. They fear a correction is coming.

Core Viewpoint - Goldman Sachs indicates that while there are fundamental justifications for the copper price rally in 2025, speculative inflows have played a significant role in driving prices upward [1] Group 1 - The fundamental factors supporting copper's price increase in 2025 are acknowledged by Goldman Sachs [1] - Speculative inflows are identified as the primary contributor to the upward momentum in copper prices [1]