The scramble for copper assets is being driven by a powerful demand outlook for a metal that already underpins construction, transport and electronics—and is now becoming essential to electrification and the soaring power needs of AI data centres.
Info collated in a Forbes piece, more here (may be gated).
Copper has surged 30% this year on the London Metal Exchange to about $11,189/t, with U.S. prices slightly higher amid uncertainty over tariff policy. Analysts expect the rally to continue as structural demand outstrips supply.
UBS forecasts copper rising to $11,500/t in Q1 next year,
- climbing steadily through 2026 to $12,000/t by June,
- $12,500/t in September,
- and ending the year near $13,000/t.
Citi expects $12,000/t as its base case over the next 6–12 months
- assigns a 40% probability to a bull-market scenario hitting $14,000/t.
