Goldman Sachs upgrades H1 2026 copper price forecast to USD 12,750/tonne from previous estimate of USD 11,525/tonne.
Goldman Sachs' upgrade of their H1 2026 copper price forecast indicates a stronger outlook for demand or supply constraints in the copper market.
US BROKER MOVES: GOOGL upgraded at Cantor; AA downgraded at JPMorgan
US Ambassador to NATO Whitaker spoke to allies this week about Greenland and the Arctic
Goldman Sachs upgrades H1 2026 copper price forecast to USD 12,750/tonne from previous estimate of USD 11,525/tonne.
German Chancellor Merz says Russia does not want a ceasefire currently so we must increase the price of war in Ukraine
Turkish Petroleum and Exxonmobil (XOM) subsidiary sign MOU, including new exploration areas in Black Sea and Mediterranean
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- Reiterates its Q4 2026 copper price forecast at USD 12,000/t.
- Does not expect copper price above USD 13,000/t to be sustained, expects price correction in Q2.
- Lowers forecast for US copper stockpiling in 2026 to 600k tonnes (prev. 750k).
However, their expectation for a price correction in Q2 and a lower forecast for US copper stockpiling suggest that while sentiment may improve, fundamental pressures could limit sustained upward movement in prices beyond USD 13,000/tonne. This may lead to volatility in related commodities and currencies dependent on copper pricing.
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