Citigroup Turns Bullish on Copper, Targets $15,000 Per Ton Within 12 Months

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According to BlockBeats, on June 1, Citigroup turned bullish on copper prices for the first time in 2026, predicting prices will reach $14,500 per ton within one month and advance to $15,000 per ton over the next 12 months, representing over 10% upside from current LME three-month copper futures. The bank attributed the bullish stance to uncertainty in U.S. copper tariff policy and expectations of normalized transit through the Strait of Hormuz, supported by growing demand from AI data center construction, power grid expansion, electric vehicles, and renewable energy. Goldman Sachs simultaneously raised its copper price forecast for year-end 2026 from $12,465 to $13,735 per ton.
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