Goldman Sachs forecasts copper to hit $10,050/ton in 2025 amid tariff-driven drop in ex-US stocks, resilient China activity.

Goldman Sachs forecasts copper to hit $10,050/ton in 2025 amid tariff-driven drop in ex-US stocks, resilient China activity.

Goldman Sachs has recently forecasted that the copper price will reach $10,050 per ton in 2025, driven by a significant drop in ex-US stocks due to tariffs and resilient activity in China. This prediction follows a period of volatility in the copper market, with prices fluctuating between $4.5540 and $4.5560 per pound as of February 27, 2025 [1].

The forecast suggests a steady increase in copper prices over the next few years. For instance, the price is expected to average $4.841 per pound in June 2025, rising to $5.266 per pound by June 2026. By June 2027, the price is projected to reach $6.325 per pound, and by June 2028, it is expected to average $6.899 per pound [1].

The resilience of the Chinese economy and its ongoing demand for copper are key factors driving this upward trend. China is the world's largest consumer of copper, and its industrial production has shown signs of recovery, which is likely to bolster copper prices [2].

Additionally, the global trade environment, particularly the ongoing tariffs, is expected to impact copper prices. The tariffs have led to a drop in ex-US stocks, which could potentially drive up copper prices as demand shifts to other markets [3].

Investors should closely monitor these forecasts and consider the potential impact on their portfolios. Copper is a critical component in various industries, including construction, manufacturing, and electronics, and its price fluctuations can have significant implications for these sectors.

References:
[1] https://longforecast.com/copper
[2] https://www.tradingeconomics.com/china/copper-imports
[3] https://www.bloomberg.com/news/articles/2025-06-19/goldman-sachs-forecasts-copper-to-hit-10-050-ton-in-2025