Goldman Sachs Sees Copper Prices Rising to $10,000/mt, Ups Aluminium Price Forecast to $3,125/mt

Published: Jan 19, 2023 13:39

Save

Foreign media reported on January 17 that Goldman Sachs expects copper prices to rise to $10,000 /mt in 2023.

SHANGHAI, Jan 19 (SMM) – Foreign media reported on January 17 that Goldman Sachs expects copper prices to rise to $10,000 /mt in 2023.

The bank raised its forecast for the average aluminum price in 2023 from $2,563/mt to $3,125/mt, and raised its three-, six- and 12-month price targets from $2,100/mt, $2,450/mt and $2,750/mt to $2,850/mt, $3,100/mt and $3,750/mt, respectively.

Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

SHFE: Approved Guangdong CMST Shengshi Zhaobang Logistics Co., Ltd. as a Copper Delivery Warehouse

7 hours ago

China’s Copper Anode Imports Edged Up YoY in January-February 2026, with Growth Expected in Q2 [SMM Analysis]

SMM Analysis: According to data from the General Administration of Customs, China imported 64,900 mt of copper anode (HS code: 74020000) in January 2026, up 5.74% MoM and up 1.48% YoY...

7 hours ago

Mitsubishi to Halt Onahama Copper Smelter Operations by March 2027 Amid Global Competition Concerns

According to foreign media reports, Mitsubishi Materials has stated that it will cease production operations at the Onahama copper smelter by the end of March 2027. This is mainly due to the rapidly deteriorating TC/RCs for copper concentrates, driven by intensifying competition among global copper smelters, which has raised concerns over the business outlook. The Onahama copper smelter has a smelting and refining capacity of 230 ktpa.

7 hours ago