Reported 11 months ago
Bank of America Merrill Lynch analysts released a report on June 9, 2024, predicting that copper prices could rise to $12,000 per ton by 2026, citing the significant demand for copper due to energy transition and the AI investment boom. They forecast a doubling of the copper supply shortage by 2026 and expect smaller, higher-cost mining companies like KGHM to see more significant profit growth if copper prices increase. The report highlighted bullish sentiments on copper demand driven by energy transition, growing Indian demand, and the rise of AI and data center construction trends.
Source: YAHOO