Non-ferrous

Non-ferrous

Base Metals

Rare Earth

Scrap Metals

Minor Metals

Precious Metals

Ferrous Metals

Ferrous Metals

Iron Ore Index Iron Ore Price Coke Coal Pig Iron Steel Billet Finished Steel

New Energy

New Energy

Solar Lithium Cobalt Cathode Material Phosphorus Carbon Anode Separator Electrolyte Battery Cell And Module Battery Recycling Nickel And Manganese Other Materials Sodium-ion Battery Hydrogen Energy

Price Center DatabasePro Reports Events Car Insight

Home / Metal News / Goldman Sachs Raises Copper Price Estimates for Q2 and Q3

Goldman Sachs Raises Copper Price Estimates for Q2 and Q3

May 8, 2025 09:53

Source:SMM

On May 7 (Wednesday), Goldman Sachs raised its quarterly copper price forecast, citing easing trade tensions and resilient copper demand, which are expected to continue supporting copper prices in the coming months.

On May 7 (Wednesday), Goldman Sachs raised its quarterly copper price forecast, citing easing trade tensions and resilient copper demand, which are expected to continue supporting copper prices in the coming months.

In a report, the bank stated, "We have raised our Q2/Q3 price forecasts from $8,620/8,370 per mt previously to $9,330/9,150 per mt."

Goldman Sachs believes that the copper market will shift into a supply deficit in 2026.

The bank expects that the relative resilience of copper demand growth in electrification-related industries and limited growth in mine supply should drive copper prices to rebound from a low of $9,000 per mt in October 2025 to above $10,500 per mt in Q4 2026.

price of copper

Copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

China's Imports of EQ Copper Cathode in April!

According to data from the General Administration of Customs, China's total imports of copper cathode reached 249,991 mt in April, down 19.06% MoM and 11.97% YoY.

time

May 21, 2025 16:57

China's Imports of EQ Copper Cathode in April!

[SMM Analysis]Industry Dilemma Under High Copper Prices: Dual Decline in Operating Rates of Copper Cathode Rod and Secondary Copper Rod, Inventory Accumulation

As copper prices continued to rise, with consumption being suppressed by the absolute price and the operating rate of secondary copper rod production passively reduced during a period of policy watch, the discount of secondary copper rod against copper futures declined throughout March. The price difference between copper cathode rod and secondary copper rod has reached its highest level since September 2024. Against this backdrop, how is the current market for refined and secondary copper rods performing? Has the supply of copper anodes increased? A detailed analysis follows:

time

Mar 25, 2025 13:49

Analysis Exclusive Industry

[SMM Analysis]Industry Dilemma Under High Copper Prices: Dual Decline in Operating Rates of Copper Cathode Rod and Secondary Copper Rod, Inventory Accumulation

Copper Price Forecast 2025: Key Factors Driving Global Demand and Price Surge

As the global economy adjusted to the new normal in the post-pandemic era, global copper demand reached a record high peak that fueled price growth. Because metal is such a vital raw material for its extensive range of industrial applications, it has emerged as an economic progress precursor in certain fields such as energy, transportation, and electronics. Copper direction in 2025 will be influenced by some of the factors ranging from the EV production boom to shifts in international trade policy.

time

Mar 4, 2025 18:30

Understanding the Fluctuations in Copper Prices A Comprehensive Guide

Copper is an essential metal extensively used across various industries, including electrical, construction, and transportation. As such, the pricing of copper significantly impacts the global economy. Understanding the dynamics influencing copper prices can provide valuable insights for investors, manufacturers, and economic policymakers.

time

Jul 10, 2024 10:58

【Japanese Company Develops 4 Micron Ultrathin Copper Foil, Promising to Improve Li-ion Battery Range】

【Japanese Company Develops 4 Micron Ultrathin Copper Foil, Promising to Improve Li-ion Battery Range】

time

Apr 29, 2024 14:07

Factors Affecting Copper Price Volatility

Copper prices are influenced by a variety of factors, including supply and demand, the global economic and political situation, monetary policy, technological advances and market expectations. Fluctuations in copper prices not only affect the copper industry, but also have a significant impact on various industries such as electricity, construction, household appliances and transport etc.

time

Feb 20, 2024 11:47

Copper Scrap Supply Still Tight, Consumption Relatively Weak

Copper prices opened lower last week. In contrast, the traded prices of copper scrap were high due to tight supply and stockpiling by processing companies after the Mid-Autumn Festival holidays.

time

Sep 27, 2021 11:09

Copper Scrap Supply Still Tight, Consumption Relatively Weak

SMM strives to provide better pricing services after achieving IOSCO standards in price assessments

SMM is the first non-ferrous metal pricing platform in China that has passed the independent audit of the International Organization of Securities Commissions (IOSCO) financial index standard in 2020. This is also the first year that the China leading pricing provider has achieved the ISOCO standards.

time

Dec 4, 2020 09:30

SMM Comments Analysis SMM Insight

SMM strives to provide better pricing services after achieving IOSCO standards in price assessments

Copper Spot Premiums Plunge on Selloffs, SMM Reports

Spot premiums on copper slumped on October 12 due to selloffs, SMM reported.

time

Oct 12, 2017 17:50

SMM Insight Industry

Copper Spot Premiums Plunge on Selloffs, SMM Reports

LME Copper to Face Great downward Pressure (2017-9-22)

LME copper will fluctuate between USD 6,425-6,470/mt on Friday, and SHFE 1709 copper will drop further to RMB 49,800-50,300/mt.

time

Sep 22, 2017 09:34

LME Copper to Face Great downward Pressure (2017-9-22)

SMM Events & Webinars

Oct
14
- SMM LME Metals Seminar 2025
  Oct 14 - 14,2025
  London , the United Kingdom
Oct
20
- Li-ION BATTERY China
  Oct 20 - 21,2025
  Xiamen, China
Oct
20
- APAC (10th) Ni-Cr-Mn Stainless Steel & New Energy Conference 2025
  Oct 20 - 21,2025
  Xiamen, China

MOST POPULAR

1.NEV Magnet Wire Industry Opportunity Discovery

2.Copper Substitution Market Study-Consumer Durables

3.Copper Substitution Market Study-Construction

4.Copper Substitution Market Study-Power Distribution

5.Copper Substitution Market Study-Power Transmission

Shanghai Metals Market

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap Holiday Pricing Schedule

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

Drop us a line

service.en@smm.cn

How can we help you?

+86 021 5155-0306

Live chat via WhatsApp

Copyright © 2025 SMM Information & Technology Co., Ltd. All rights reserved.