Send
Print
Sam-Cat via flickr
By Friday, the price hit a new high of $11,952 per ton but then declined slightly by the end of the trading day. On Monday, three-month copper futures on the London Metal Exchange (LME) increased by 1.4% to $11,670 per ton. The price of copper has climbed by 36% since the start of the year.
According to Citi analysts, demand for copper is expected to remain robust, especially with the shift to renewable energy and the growth of artificial intelligence. The expansion of electrification, power grids, and data centers requires large amounts of copper, which is used in wiring, cables, and distribution systems, as reported by CNBC.
Citi experts predict a copper supply shortage, pointing to limited availability and the accumulation of copper reserves in the United States.
Citi anticipates copper prices to climb to $13,000 per ton by early 2026 and may go as high as $15,000 per ton by the second quarter.
Avatar Commodities CEO Andrew Glass also highlights that the buildup of copper reserves in the United States is reducing the metal's supply globally. He believes copper prices are set to reach "astronomical new records."
source: cnbc.com
According to Citi analysts, demand for copper is expected to remain robust, especially with the shift to renewable energy and the growth of artificial intelligence. The expansion of electrification, power grids, and data centers requires large amounts of copper, which is used in wiring, cables, and distribution systems, as reported by CNBC.
Citi experts predict a copper supply shortage, pointing to limited availability and the accumulation of copper reserves in the United States.
Citi anticipates copper prices to climb to $13,000 per ton by early 2026 and may go as high as $15,000 per ton by the second quarter.
Avatar Commodities CEO Andrew Glass also highlights that the buildup of copper reserves in the United States is reducing the metal's supply globally. He believes copper prices are set to reach "astronomical new records."
source: cnbc.com
