Goldman Sachs Forecasts Copper to Average $13,800 per Ton in 2027, Boosted by Iran Conflict Aftermath

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According to Goldman Sachs, copper is expected to benefit from the lasting impacts of the Iran-U.S. conflict, as the geopolitical tension supports key demand drivers including electrification and defense spending. The bank forecasts copper prices at $13,735 per ton by end-2026 and an average of $13,800 per ton in 2027. "The Iran conflict ultimately reinforces many themes underpinning electricity and metal demand, to a greater degree than the impact on oil and gas," analysts Samantha Dart and Daan Struyven noted. Copper is currently trading at $13,420 per ton on the London Metal Exchange.
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