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<Research>G Sachs Predicts Copper Upside Limited to USD11K Per Ton in ST
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Driven by expectations of Fed rate cuts and a weaker dollar, as well as AI-related capital expenditure, the current high prices of copper, aluminum, and zinc reflect investor bullish sentiment towards 2026, Goldman Sachs wrote in its report. The broker expects copper prices to remain in the range of USD10,000-11,000 per ton in 2026-27, though it also sees larger downside risk for aluminum prices due to increased supply from Indonesia. In Goldman Sachs' estimate, the short-term upside for copper prices is capped at USD11,000 per ton. While the broker is optimistic about copper prices in the long term, it believes the market will remain oversupplied and price upside potential will be restricted over the short term. AAStocks Financial News |
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