27 March | Other

Goldman Sachs maintains copper price forecasts for 2025

Goldman Sachs maintains copper price forecasts for 2025

Goldman Sachs maintained its full-year LME copper price forecasts unchanged on Wednesday. The bank's analysts noted that newly imposed American copper import tariffs should prevent domestic market oversupply in the third quarter.

The bank further highlights near-term downside price risks stemming from potential trade policy shifts by the US administration.

Copper prices in the United States surged to an all-time high Wednesday, widening their premium over London Metal Exchange (LME) prices amid expectations of impending import tariffs under consideration by President Donald Trump.

Last month, the US President directed an investigation into potential copper import tariffs aimed at revitalizing domestic production, according to bank research.

Goldman Sachs analysts project American copper inventories could decline by 30,000–40,000 tons monthly beginning in the second quarter 2025 if tariffs are implemented early. This drawdown would prevent a domestic supply glut during the third quarter 2025, when global copper trade tensions are expected to peak.

Period: 22.04.2025 Expectation: 800 pips
USDCAD to rise from new support at 1.38200
Yesterday at 11:39 AM 29
Period: 26.04.2025 Expectation: 3909 pips
GBPUSD technical correction opens up selling opportunities with 1.288 target
Yesterday at 11:13 AM 21
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segment "Metals"
Period: 24.04.2025 Expectation: 150 pips
Brent crude poised to rebound to $69
Yesterday at 10:55 AM 24
Period: 22.04.2025 Expectation: 1495 pips
AUDCAD set to enter fifth wave of growth
Yesterday at 08:29 AM 33
Period: 23.04.2025 Expectation: 2500 pips
Rebound to 145 could interrupt USDJPY decline
17 April 2025 66
AntonVolkov
AntonVolkov

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 21.04.2025 Expectation: 600 pips
AUDUSD rebounds from 0.64000 resistance level
17 April 2025 38
Go to forecasts