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ANZ projects copper to reach 15000
ANZ Group Holdings expects copper prices to reach record levels by early next year, potentially reaching $15,000 per ton due to concerns over American import tariffs and production challenges. Prices have risen by 15% this year, supported by demand from electric vehicle and energy infrastructure sectors, despite mining and supply pressures in South America. Copper futures are trading near $14,245 per ton, with ongoing tariff-driven trading flows distorting market balance, as most stockpiles are concentrated in the United States, leading to price corrections that push prices higher in the U.S. market compared to the London market.
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