智通财经网·2026-01-16 06:58Group 1 - LME copper futures prices have declined from historical highs, dropping by 2% to $13,033 per ton, following a significant rise in basic and precious metals earlier in 2026 [1] - Goldman Sachs analysts predict a more severe decline in copper prices, forecasting a drop to $11,000 per ton by the end of 2026 due to worsening market fundamentals, rising global inventories, increased scrap supply, and underwhelming demand [1] - The recent price movements are largely driven by speculative capital inflows, and Goldman Sachs believes that most of the price gains have already been realized, making copper prices more susceptible to corrections [1] Group 2 - Analysts remain optimistic about copper prices, citing a resurgence in demand from the renewable energy and artificial intelligence sectors, which is expected to support long-term price stability due to anticipated supply shortages [2] - A recent correction of a technical paper by NVIDIA revealed that a traditional one-gigawatt data center requires only about 200 tons of copper, rather than the previously stated 50,000 tons, alleviating concerns about severe copper shortages [3] - Despite the correction, demand from the renewable energy, artificial intelligence, and construction sectors is likely to continue supporting the copper market [3]