Core Viewpoint - Goldman Sachs predicts that copper prices will rise to a peak of $10,050 per ton by August 2025 due to reduced copper inventories outside the U.S. caused by tariffs and resilient economic activity in China [1] Price Forecast - Analysts have raised their average copper price forecast for the second half of the year to $9,890 per ton, an increase of 8.2% from previous estimates [1] - The firm expects copper prices to drop to $9,700 per ton by December, reflecting the assumption that the U.S. will impose a 25% tariff on imported copper by September [1]

Group 1 - Goldman Sachs has raised its forecast for LME copper prices in the second half of 2025 to an average of $9,890 per ton, up from the previous estimate of $9,140 per ton [1] - It is expected that copper prices will decline to $9,700 by December of this year [1] - The peak price for copper is anticipated to reach $10,050 per ton in 2025 [1] Group 2 - The average copper price for the entire year of 2026 is projected to be $10,000 per ton, revised down from the previous forecast of $10,170 per ton [1] - By December 2026, copper prices are expected to reach $10,350 per ton [1]

Group 1 - Goldman Sachs has raised its forecast for LME copper prices in the second half of 2025 to an average of $9,890, up from the previous estimate of $9,140 [1]

摩根大通预计2025年下半年铜价将平均达到9,225美元/吨。 ...

Core Viewpoint - Goldman Sachs has raised its forecast for quarterly copper prices due to the easing of trade tensions and a potential recovery in Chinese copper demand, which may continue to support copper prices in the coming months [1] Group 1 - The easing of trade tensions is expected to positively impact copper prices [1] - A recovery in Chinese copper demand is anticipated to further support price stability [1] - The forecast adjustment reflects a more optimistic outlook for the copper market in the near term [1]

Group 1 - Citi Research has revised its three-month copper price forecast down from $10,000 per ton to $9,500 per ton due to anticipated declines in physical demand resulting from increased import tariffs and economic growth challenges in the U.S. [1] - The U.S. government has announced a 25% tariff on imported cars and parts, effective April 2, with the tariff on auto parts to be implemented by May 3, 2025 at the latest [1] - Goldman Sachs predicts LME copper prices for the next three, six, and twelve months to be $9,600, $10,000, and $10,700 per ton respectively [1] Group 2 - The upcoming CCIE 2025 SMM Copper Industry Conference will take place from April 22-25, 2025, in Nanchang, Jiangxi, focusing on the copper industry chain and featuring over 3,000 industry professionals [2] - The conference will include discussions on global copper market trends, raw material supply, and policy impacts, along with specialized forums on various segments of the copper industry [2] - The event will showcase over 100 exhibitors presenting the latest advancements in copper processing and smelting equipment, as well as new copper-based materials [2]