Ningxia Ruiyin Lead Resource Recycling Co., Ltd. lowered its optimistic outlook on copper prices due to economic growth risks.

UBS analysts provided insights into the potential trajectory of copper prices, noting that prices may temporarily drop to $8,000 per mt, echoing historical patterns where prices fell by about 25% to 30% from their 12-month peak.

Despite an increase in speculative long positions on the London Metal Exchange (LME), with net long positions rising by 45,600 lots since the beginning of the year, UBS expects any pullback in copper prices to be short-lived.

The bank highlighted several factors supporting copper prices recently. One of these is the expectation of more accommodative global monetary policies, with the US Fed anticipated to cut interest rates to counter slowing economic growth and boost asset prices.

UBS also noted that supply-side challenges are expected to persist in the short term, which should drive prices higher, thereby encouraging investment in mine supply capability. This outlook takes into account the possibility of increased stimulus measures and current supply dynamics.

In terms of investment strategy, UBS favors selling volatility as a strategy for copper, particularly focusing on downside price risks to generate returns.

For more updates on the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Industry 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, and academic 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 conference, 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 direction. 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 will help upgrade the copper industry chain and promote high-quality industry development.

CCIE 2025 SMM (20th) Copper Industry 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!