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ANZ forecasts copper to hit $15,000
The ANZ group expects copper prices to reach record levels by early next year, potentially reaching $15,000 per ton, driven by fears of US tariff impositions and production challenges. The analysts stated that demand for copper is increasing due to the expansion of electric vehicles and new energy infrastructure, despite operational pressures in South American markets. Copper prices have risen by 15% this year and are approaching their all-time highs, as ongoing trade flows influenced by tariff costs continue to distort the market balance and increase inventories within the United States.
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