|

JP Morgan expects copper prices at $11,000 in 2026

ByVictoria

JP Morgan expects the global deficit in refined copper to grow to 160,000 metric tons in 2026 and continues to forecast copper prices averaging around $11,000 per metric ton next year, the bank said in a note dated Friday.

“Likely excess inventory builds in the U.S. in the coming months ahead of a tariff on copper sets up the potential to leave the rest of the world shorter of copper … setting the stage for our forecast bullish push higher over 2H25 towards $10,400/mt,” JP Morgan noted.

Source – Reuters

Similar Posts

  • /

    John Paulson predicts gold to reach $5000

    ByVictoria
    0 Comments

    Central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, billionaire investor John Paulson said in an interview during which he reinforced his commitment to U.S. mining projects

    Already the largest shareholder in Idaho gold and antimony developer Perpetua Resources, Paulson last week bought a 40% stake in NovaGold’s Donlin gold project in Alaska from Barrick.

    “It’s a well-informed prediction. I think that’s a reasonable number,” he said.

    “As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,” he added

    Source – Reuters

  • /

    Chile copper mine produces first cathode

    ByVictoria
    0 Comments

    A Chilean startup backed by BHP Group has delivered its first copper cathodes from a demonstration plant at a mine site in northern Chile as the industry looks to squeeze out more metal from lower quality ore.

    Ceibo and firms such as Jetti Resources LLC and Rio Tinto Group’s Nuton venture are looking to roll out catalysts for liberating copper from low-grade ore that miners previously saw as too expensive and difficult to process.

    Source – Mining.com

    Copper cathode – is high quality copper that is produced through the process of electrolysis.

    Electrolysis – is an electric current that passes through a substance to have a chemical change.

  • /

    Copper doing well in 2025

    ByVictoria
    0 Comments

    Copper prices in the U.S. have surged ahead of those in the rest of world and hit a record last week, a sign the mere threat of tariffs is lifting costs for domestic manufacturers.

    Benchmark U.S. copper futures ended Monday at $5.02 a pound, up 26% this year. That compares with an 11% gain to $9,673 a metric ton, or about $4.39 a pound, on the London Metal Exchange, which is the global trading hub.

    U.S. copper futures have been the top performer among major commodities in the first quarter. Prices for the industrial metal last week topped the record set in May but have since pulled back. Copper’s gains have outpaced the 21% rise in lumber futures, which was also fueled by uncertainty over tariffs.

    Source – Wall Street Journal

  • /

    Silver eagles to honor U.S. Army

    ByVictoria
    0 Comments

    A limited-edition, privy-marked Proof 2025-W American Eagle silver dollar prepared for release June 13 from the United States Mint celebrates the 250th anniversary of establishment of the Continental Army during the American Revolutionary War, on June 14, 1775.

    As of May 24, the Mint had not yet established pricing for the privy-marked American Eagle. The product is limited to an issue of 100,000 coins. Each household order is restricted  to three coins during the first 24 hours of sales, after which the limit will be lifted.

    The commemorative privy-mark — containing elements of the U.S. Army’s official seal — is positioned in the field behind Liberty, to the left of the Y in the inscription LIBERTY.

    Source – Coin World

  • /

    Gold prices and gold futures drop

    ByVictoria
    0 Comments

    Spot gold, which dipped 0.5% to $2,904.51 an ounce as of 1211 GMT, has gained over 10% year-to-date. It hit a record high of $2,956.15 on February 24.

    U.S. gold futures also dropped 0.5% to $2,912.10.

    “Gold seems to be experiencing profit-taking as investors closely watch tariff developments with prices trading toward $2,900 ahead of the non-farm payrolls report,” Lukman Otunuga, senior research analyst at FXTM, said.

    Platinum prices were flat at $964.68 per ounce.

    Spot silver dipped 0.7% to $32.39 an ounce and palladium shed 0.5% to $937.74.

    Source – Reuters