Goldman Sachs Maintains 2026 Copper Price and Surplus Forecasts Amid Supply Risks
Goldman Sachs has maintained its forecast for the 2026 average copper price at $12,650 per metric ton and a 490,000-ton surplus for the year. However, the bank highlighted risks from potential sulphuric acid shortages due to ongoing disruptions in the Strait of Hormuz and China's export ban, which could impact copper production in key countries like the Democratic Republic of the Congo and Chile.
Topics: China Export Ban Copper Price Forecast Strait of Hormuz Sulphuric Acid Shortage Supply Chain Disruption