Copper Tops $14,000 With Banks Calling for Even More Upside

Copper prices have surged to just over $14,000 per ton in London, nearing its all-time high from earlier this year, and major financial institutions like Goldman Sachs are projecting even higher prices ahead. This week, Goldman Sachs increased its end-of-2026 copper price forecast by over 10%, attributing the rise to a significant reduction in global mine supply estimates due to ongoing operational challenges, particularly at Indonesia's Grasberg complex. This shift in market sentiment and supply outlook underscores the growing demand-supply imbalance and the potential for copper prices to continue climbing.