Whilst COMEX benchmark copper prices will be heavily influenced by President Trump’s plans for tariffs in the near term, the bigger picture is that weak demand growth and robust refined copper supply will weigh on global benchmark prices over the next few years. Accordingly, we forecast LME copper prices to fall to $8,500 and $8,000 per tonne by the end of 2025 and 2026 respectively.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services