JPMorgan: Remains Bullish on Global Copper Prices as Demand Is Expected to Increase

Published: Mar 25, 2025 18:47

Save

JPMorgan Remains Bullish on Global Copper Prices Due to Expected Demand Increase. On Monday, March 24, JPMorgan expressed optimism about the global copper market, forecasting that copper demand will continue to grow through 2025. The firm's global metals and mining team noted that LME copper futures have risen 15% year-to-date, reaching approximately $10,000 per mt.

On Monday, March 24, JPMorgan expressed optimism about the global copper market, expecting copper demand to continue growing through 2025.

The company's global metals and mining team noted that LME copper futures have risen 15% year-to-date, reaching approximately $10,000 per mt.

Comex copper futures have surged 25% this year.

JPMorgan predicts a surge in copper demand by 2025.

The investment bank forecasts a global copper market deficit starting next year, with the gap expected to widen to around 3 million mt annually by 2030. Consequently, copper prices could rise to $11,500 per mt.

To learn more about the dynamics of the copper industry chain, you are invited to attend the CCI 2025SMM (20th) Copper Industry Conference and Expo, hosted by SMM, which will be held grandly in Nanchang, Jiangxi from April 22-25, 2025. ~Over 3,000 industry elites, representatives from upstream and downstream enterprises of the copper industry chain, government officials, industry associations, third-party equipment, logistics and warehousing, as well as academic and research experts will gather together. The conference covers mines, smelting, copper processing, trade, recycling, and end-use applications, encompassing the entire copper industry chain.

At the event, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry.

The conference features a variety of exciting activities: the main forum focuses on global copper market trends, raw material supply, policy impacts, and market directions. Sub-forums delve into industry hot topics such as electrical power transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS. During the conference, a two-day field trip will visit 12 representative enterprises with a cumulative capacity of 1 million mt in the copper industry. Sharing cutting-edge technologies and valuable experiences will help upgrade the copper industry chain and promote high-quality industry development.

CCI 2025SMM (20th) Copper Industry Conference and Expo

helps you grasp the industry pulse, expand your network, and seek business opportunities! SMM cordially invites you to gather in Nanchang, Jiangxi from April 22-25, 2025, to unite in the new era and jointly plan for new developments!

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

50 mins ago

SMM: Domestic Wire and Cable Production to Surge 13.83% in March Amid Post-Festival Recovery

[SMM Copper Flash] SMM expects that in March, the operating rate of domestic wire and cable enterprises is expected to increase 13.83 percentage points MoM to 69.44%. This is mainly because after the Lantern Festival, end-use industries have gradually resumed production, and orders are expected to be further released, supporting enterprises’ production schedules. In addition, after excluding holiday impacts, wire and cable enterprises are expected to gradually return to a normal production pace in March.

50 mins ago

51 mins ago

Domestic Wire and Cable Firms See Raw Material Inventory Days Rise in February Amid Post-Holiday Resumption

[SMM Copper Flash] Regarding the inventory performance of domestic wire and cable enterprises in February, days of raw material inventories increased 1.11 days MoM, mainly because as enterprises advanced their work resumption and production resumptions, they gradually began purchasing raw materials for subsequent production. Days of raw material inventories increased 0.46 days MoM, mainly because end-users were on holiday during the Chinese New Year, and pick up goods was relatively slow.

51 mins ago

Copper Wire and Cable Production Drops 14.29% in February Amid Chinese New Year Holiday

[SMM Copper Flash] In February, the operating rate of copper wire and cable enterprises came in at 55.81%, down 14.29 percentage points MoM, mainly due to the Chinese New Year holiday. During the holiday, wire and cable enterprises took about 11 days off on average. By sector, orders from the power sector were strong with production schedules concentrated, while engineering-related orders were relatively weak, showing clear divergence in end-use sector orders.

51 mins ago