Citi, Goldman Stay Bullish on Copper Amid Ongoing Supply Pressures
Major financial institutions remain optimistic about copper prices even as the industrial metal trades close to historic highs, with analysts expecting tight supply and firm demand to keep the market elevated in the months ahead. Among the most bullish is Goldman Sachs, which has raised its year-end copper forecast to $13,735 per ton. This is over 10% higher than its earlier projection of $12,465 per ton. Citigroup is even more optimistic, predicting copper could reach $14,500 per ton in June and climb to $15,000 within the next 12 months. The stronger outlooks follow broader comments from HSBC, which warned that commodities could face a “super-squeeze” triggered by disruptions linked to the…