According to SMM's understanding, Citibank (CITI) stated that the curr

Published: Jul 30, 2024 10:35

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According to SMM's understanding, Citibank (CITI) stated that the current forecast for the average copper price in 2025 is US$10,500 per tonne and US$11,000 per tonne for 2026, with both previously predicted at US$12,000. The revised copper supply-demand balance sheet indicates a modest surplus of 150,000 tonnes in the copper market for 2024. For the copper market, based on the current spot price and assuming a moderate rebound in cyclical demand growth, a supply shortage of 200,000 tonnes is still predicted for both 2025 and 2026.

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