Citi lowered its three-month copper price forecast to $9,500/mt.

On Thursday, March 27, Citi Research stated in a report that it has revised its three-month copper price forecast down to $9,500/mt from $10,000/mt.

According to China News Service, US President Trump signed an executive order at the White House on the 26th, imposing a 25% tariff on cars and auto parts imported into the US. The executive order stipulates that the tariff on imported vehicles will take effect on April 2, while the tariff on auto parts will be implemented no later than May 3, 2025.

Citi added, "We still expect the average copper price in H2 2025 to be $8,800/mt, due to a broad decline in physical demand caused by the US implementing a wider range of import tariff increases and obstacles to US economic growth."

As of 0536 GMT, LME three-month copper rose 0.6% to $9,982.5/mt.

In addition, Goldman Sachs predicts that LME copper prices will be $9,600/mt, $10,000/mt, and $10,700/mt over the next three, six, and 12 months, respectively.

Goldman Sachs also highlighted the near-term downside risks to prices posed by the trade policy set to take effect on April 2.

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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 experts from universities and research institutions 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 impact analysis, and market direction interpretation. 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, there will also be a two-day field trip to visit 12 representative enterprises in the copper industry with a cumulative capacity of 1 million mt, sharing cutting-edge technologies and valuable experiences to help upgrade the copper industry chain and promote high-quality industry development.

CCIE 2025 SMM (20th) Copper Conference and Copper Industry 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 development!