The International Copper Study Group (ICSG) forecasts a refined copper deficit of around 150,000 tons in 2026, while other analysts project an even larger shortfall of over 400,000 tons. This imbalance between demand and constrained supply is a significant factor in bullish copper price forecasts for 2026, with many analysts expecting prices to remain elevated or reach new highs.Supply Constraints: A key dynamic is that while demand is rising, structural supply issues—such as declining ore grades, lack of n ...