Citigroup: Lowered the 0-3 month price forecasts for copper and aluminum to $8,000/mt and $2,200/mt, respectively.

On Monday, April 7, Citi Research lowered its 0-3 month Brent crude oil price forecast to $60/barrel, and reduced its 0-3 month copper and aluminum price forecasts to $8,000/mt and $2,200/mt, respectively.

Citi analysts stated in a report: "These targets are entirely achievable within the next week, and if not, they are highly likely to be achieved within the next three months."

The bank noted in the report that the actual impact of tariff imposition should be doubly bearish, as pre-purchasing and stockpiling of goods and commodities will completely reverse after the tightening of the commodity market in recent months.

Citi analysts said in a report: "We believe any rebound triggered by trade agreement headlines or the delayed implementation of tariffs on April 9 this week will provide an opportunity to sell on strength." They added: "US natural gas and gold should outperform in the short term."

To learn more about the dynamics of the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Conference and Copper Industry Expo, hosted by SMM, which will be grandly held 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 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, 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.

The CCIE 2025 SMM (20th) Copper Conference and Copper Industry Expowill help you grasp industry trends, expand your network, and seek business opportunities! SMM cordially invites you to gather in Nanchang, Jiangxi from April 22-25, to unite in the new era and jointly plan for new development!