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| Copper price |
Global Copper Supply Faces Increasing Stress
The copper price forecast rises sharply as global supply tightens. Trade turmoil and unplanned mine outages intensify market pressure. Meanwhile, the rush to ship copper to the US ahead of potential tariffs has further reduced availability elsewhere. As a result, investors and mining companies are piling into futures and stocks, anticipating continued price gains throughout 2026.
Bullish Outlook from Major Banks
Major banks project further gains in copper price forecast for 2026. Citigroup expects prices to reach $13,000 per ton by the second quarter. Similarly, Goldman Sachs highlighted copper as its preferred metal for the year ahead. In contrast, some smelters are forced to reduce production due to record-low processing fees, heightening supply constraints and contributing to price volatility.
Demand Drivers: Energy Transition and AI Infrastructure
Copper remains critical for energy transition and artificial intelligence infrastructure. Growing demand from clean energy and technology sectors underpins long-term bullish sentiment. Meanwhile, nickel showed a moderate rise of 1.8%, while other metals remained flat or declined. Therefore, copper’s market tightness is expected to persist, reinforcing its central role in industrial applications.
ScrapInsight Commentary
The copper price forecast indicates sustained bullish momentum driven by tight supply and geopolitical risks. Continued energy transition demand and AI infrastructure investment will likely keep prices elevated. Strategic monitoring of smelter output and trade policies is essential for market stability.
