Citi Lowers Copper Price Forecast for Next Three Months, Expects Supply Surplus in 2027 and 2028
On November 7, Citi revised its copper price forecast for the next 0-3 months from $14,500 per ton to $13,300 per ton, and anticipates a supply surplus in the copper market in 2027 and 2028. Previously, Citi held a neutral stance on copper prices, expecting short-term prices to range between $14,000 and $15,000 per ton, and projected stronger growth in copper supply in 2027.
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