Copper is a base, or industrial metal. It has a huge sphere of application, which is expanding year after year. Copper products are indispensable in the electrical industry, construction, etc.
Copper is also used in the manufacture of jewelry. Once coins were minted from it. But despite this, it is neither among precious metals, nor is it considered an investment asset.
Copper is the world's 3rd by volume of consumption. Its reserves are vast and easily accessible. Its physical and chemical properties allow it to retain its value even after it has been melted down. But some forecasts say there will be a shortage of this metal in the future.
The key factor determining the copper price forecast today is the supply and demand ratio. The economic situation in the world plays an important role.
Key information on expected copper prices is set out below:
The dynamics of the copper price reflects the state of the global economy. It has a direct correlation with the growth of global GDP and oil prices.
Today the copper market is influenced by bears. Negative expectations about economic outlook are on their side. Technical analysis indicators give a strong recommendation to sell copper. Experts see no fundamental factors that could reverse the situation. Stabilization of quotations is unlikely in the coming days.
There is a downward trend in the daily chart of quotations. The trend began in the end of December 2023. There are reasons to believe that this trend will continue in the next month:
BeatMarket analysts expect the downtrend to continue in the next month. But short-term corrections are likely against its background.
Bullish doji Star candlestick pattern on 15 and 30 minutes timeframes indicates the potential for rally. The market may go to stable growth upon positive fundamental factors. But the reliability of this signal remains average.
Buy: 33.33%
Sell: 0%
Neutral: 66.67%
Buy: 16.67%
Sell: 83.33%
Neutral: 0%
| Header | Sell | Neutral | Buy | Action |
| Moving Averages |
83.33% |
0% |
16.67% |
Sell |
| Oscillators |
0% |
66.67% |
33.33% |
Buy |
| Name | Value | Action |
| RSI(14) |
42.71 |
Neutral |
| Stochastic %K (14, 3, 3) |
17.19 |
Neutral |
| Stochastic RSI Fast (3, 3, 14, 14) |
17.19 |
Buy |
| Williams Percent Range (14) |
-91.01 |
Buy |
| CCI(20) |
-72.57 |
Neutral |
| Ultimate Oscillator (7, 14, 28) |
36.35 |
Neutral |
| Period | Simple | Exponential |
| MA10 |
4.19 |
4.17 |
| MA20 |
4.23 |
4.22 |
| MA30 |
4.29 |
4.23 |
| MA50 |
4.23 |
4.19 |
| MA100 |
4.03 |
4.09 |
| MA200 |
4.09 |
3.91 |
| Pivot | Classic | Fibonacci | Camarilla | Woodie | Demark |
| Middle | 3.90354 | 3.90354 | 3.90354 | 3.89205 | 4.015515 |
| S3 | 2.20386 | 3.0537 | 3.623874 | 2.58282 | - |
| S2 | 3.0537 | 3.37833888 | 3.701776 | 3.04221 | - |
| S1 | 3.45564 | 3.57890112 | 3.779678 | 3.43266 | 3.67959 |
| R1 | 4.30548 | 4.22817888 | 3.935482 | 4.2825 | 4.52943 |
| R2 | 4.75338 | 4.42874112 | 4.013384 | 4.74189 | - |
| R3 | 5.60322 | 4.75338 | 4.091286 | 5.13234 | - |
Below is a table with prices for major metals. It will help to compare the dynamics of copper with silver, steel, iron, etc.
| Price | Day | Month | Year | Date | ||
| Gold | 2622.97 USD | +24.76 | +0.95% | -1.33% | +28.82% | 21.12.2024 |
| Silver | 29.51 USD | +0.53 | +1.83% | -5.33% | +21.75% | 21.12.2024 |
| Palladium | 919.02 USD | +15.37 | +1.70% | -10.85% | -24.20% | 21.12.2024 |
| Platinum | 929.27 USD | +7.07 | +0.77% | -4.08% | -4.04% | 21.12.2024 |
| Copper | 4.08 USD | +0.0094 | +0.23% | -1.63% | +4.67% | 21.12.2024 |
| Aluminum | 2542 USD | +23.37 | +0.93% | -3.69% | +13.42% | 21.12.2024 |
| Zinc | 2963.45 USD | -1.86 | -0.063% | -0.44% | +15.69% | 21.12.2024 |
| Nickel | 14965 USD | 0.00 | 0.00% | -2.13% | -10.23% | 21.12.2024 |
Forecast experts predict a bullish rally in the copper market. They expect the trend to be positive in the next 5 years. This metal is called the new oil and an asset of the future. Financial consultants recommend clients to bet on the growth of its quotations.
This point of view has fundamental grounds. The main consumer of copper is China. The market believes the demand from its industry and European markets will grow. Expectations of surplus reserves are replaced by concerns about the shortage of production volumes.
Another positive factor for copper is the assumption that the Fed will reduce the rate. This situation will weaken the dollar and positively affect the metals market.
In the course of 5 years, it is expected that the drawdowns of quotations will be insignificant. These will be of the nature of local correction against the background of the upward trend. This makes copper a proper asset for medium and long-term investments.
With the general optimistic mood, experts do not agree on the growth rates of quotations:
There are analysts who do not share the optimistic mood. The reason for this is their lack of confidence in the deficit forecasts. They believe that the secondary market will be able to cover the shortage of primary metal. At least in the next five years.
Their main argument is the slow pace of China's recovery. But in our opinion, this factor is able to act on the market only in the coming years.
| Date | Min forecast price | Max forecast price | Change |
| 01.12.2025 | 4.310 USD | 4.383 USD | +0.27 USD (6.19%) |
| 01.12.2026 | 4.493 USD | 4.572 USD | +0.19 USD (4.1%) |
| 01.12.2027 | 4.680 USD | 4.754 USD | +0.18 USD (3.91%) |
| 01.12.2028 | 4.869 USD | 4.937 USD | +0.19 USD (3.79%) |
| 01.12.2029 | 5.063 USD | 5.090 USD | +0.17 USD (3.42%) |
The copper price forecast 2025 is bullish. Experts are optimistic and are expecting a renewal of historical highs. The key reason is predictions of growth in demand for the metal. Expectations of lower interest rates provide support.
| Date | Min forecast price | Max forecast price | Change |
| 01.02.2025 | 4.225 USD | 4.321 USD | +0.2 USD (4.58%) |
| 01.03.2025 | 4.330 USD | 4.371 USD | +0.08 USD (1.78%) |
| 01.04.2025 | 4.373 USD | 4.412 USD | +0.04 USD (0.96%) |
| 01.05.2025 | 4.346 USD | 4.380 USD | -0.03 USD (-0.68%) |
| 01.06.2025 | 4.291 USD | 4.341 USD | -0.05 USD (-1.09%) |
| 01.07.2025 | 4.290 USD | 4.323 USD | -0.01 USD (-0.22%) |
| 01.08.2025 | 4.292 USD | 4.314 USD | -0 USD (-0.08%) |
| 01.09.2025 | 4.276 USD | 4.335 USD | +0 USD (0.06%) |
| 01.10.2025 | 4.268 USD | 4.292 USD | -0.03 USD (-0.6%) |
| 01.11.2025 | 4.266 USD | 4.298 USD | +0 USD (0.05%) |
| 01.12.2025 | 4.310 USD | 4.383 USD | +0.06 USD (1.48%) |
Analysts believe that 2026 will be a successful year for copper. In this period, the deficit predicted by experts will begin to be felt. Stabilization of the economy and lower interest rates will be the drivers for reaching new highs.
| Date | Min forecast price | Max forecast price | Change |
| 01.01.2026 | 4.389 USD | 4.430 USD | +0.33 USD (7.53%) |
| 01.02.2026 | 4.412 USD | 4.503 USD | +0.05 USD (1.08%) |
| 01.03.2026 | 4.514 USD | 4.555 USD | +0.08 USD (1.7%) |
| 01.04.2026 | 4.560 USD | 4.599 USD | +0.04 USD (0.98%) |
| 01.05.2026 | 4.535 USD | 4.564 USD | -0.03 USD (-0.66%) |
| 01.06.2026 | 4.476 USD | 4.530 USD | -0.05 USD (-1.03%) |
| 01.07.2026 | 4.478 USD | 4.509 USD | -0.01 USD (-0.21%) |
| 01.08.2026 | 4.478 USD | 4.506 USD | -0 USD (-0.03%) |
| 01.09.2026 | 4.464 USD | 4.523 USD | +0 USD (0.03%) |
| 01.10.2026 | 4.455 USD | 4.478 USD | -0.03 USD (-0.6%) |
| 01.11.2026 | 4.453 USD | 4.492 USD | +0.01 USD (0.13%) |
| 01.12.2026 | 4.493 USD | 4.572 USD | +0.06 USD (1.32%) |
Experts predict copper will turn out to be a profitable asset in 2027. Its quotations will move upwards for most of the year. This forecast is based on the expectation that the deficit will get even worse. But still, in case the latter does not happen, prices will gain support. The support will come from the ever-increasing production needs.
| Date | Min forecast price | Max forecast price | Change |
| 01.01.2027 | 4.572 USD | 4.617 USD | +0.52 USD (11.25%) |
| 01.02.2027 | 4.598 USD | 4.685 USD | +0.05 USD (1.01%) |
| 01.03.2027 | 4.697 USD | 4.742 USD | +0.08 USD (1.65%) |
| 01.04.2027 | 4.748 USD | 4.786 USD | +0.05 USD (1%) |
| 01.05.2027 | 4.719 USD | 4.747 USD | -0.03 USD (-0.72%) |
| 01.06.2027 | 4.663 USD | 4.715 USD | -0.04 USD (-0.94%) |
| 01.07.2027 | 4.665 USD | 4.695 USD | -0.01 USD (-0.19%) |
| 01.08.2027 | 4.664 USD | 4.689 USD | -0 USD (-0.07%) |
| 01.09.2027 | 4.654 USD | 4.709 USD | +0 USD (0.11%) |
| 01.10.2027 | 4.642 USD | 4.665 USD | -0.03 USD (-0.6%) |
| 01.11.2027 | 4.639 USD | 4.675 USD | +0 USD (0.08%) |
| 01.12.2027 | 4.680 USD | 4.754 USD | +0.06 USD (1.27%) |
All copper price forecasts for 2028 are bullish. That is, all analysts believe the value of a pound of metal will exceed the current one. Only the value of the delta expected by experts differs.
For example, the Walletinvestor platform has a rather moderate view on copper's prospects. In accordance with its algorithms, the price of the pound will fluctuate within the range of $4.8-5.
The most optimistic analysts refer to figures that are several times higher. In their opinion, quotations are capable of approaching the $19 per pound boundary by the end of December 2028. This is equivalent to almost $42,000 per metric tonne and a 5-fold increase.
BeatMarket experts stick to a midpoint opinion between pessimists and optimists.
| Date | Min forecast price | Max forecast price | Change |
| 01.01.2028 | 4.766 USD | 4.804 USD | +0.71 USD (14.79%) |
| 01.02.2028 | 4.786 USD | 4.881 USD | +0.05 USD (1%) |
| 01.03.2028 | 4.885 USD | 4.931 USD | +0.07 USD (1.52%) |
| 01.04.2028 | 4.944 USD | 4.972 USD | +0.05 USD (1.01%) |
| 01.05.2028 | 4.904 USD | 4.937 USD | -0.04 USD (-0.76%) |
| 01.06.2028 | 4.849 USD | 4.905 USD | -0.04 USD (-0.89%) |
| 01.07.2028 | 4.853 USD | 4.882 USD | -0.01 USD (-0.2%) |
| 01.08.2028 | 4.851 USD | 4.882 USD | -0 USD (-0.02%) |
| 01.09.2028 | 4.839 USD | 4.895 USD | +0 USD (0.01%) |
| 01.10.2028 | 4.829 USD | 4.852 USD | -0.03 USD (-0.55%) |
| 01.11.2028 | 4.825 USD | 4.869 USD | +0.01 USD (0.13%) |
| 01.12.2028 | 4.869 USD | 4.937 USD | +0.06 USD (1.14%) |
Experts give positive future copper price predictions. The red metal and mining stocks are among the most promising assets. There are three reasons for this optimism:
Inflation will also be on the bulls' side. Copper is a real asset with its own value. And commodities are often perceived as a defense against money depreciation.
Copper price forecasts for the next 10 years are bullish. Mostly this is due to the green revolution. The transition to zero emissions requires a significant increase in copper consumption.
This does not mean that quotations will grow steadily. There may be corrections and short-term drawdowns in the market. But it is obvious that the cost per tonne after 10 years will exceed the current one.
Experts point to the potential for prices to double relative to the levels of 2023. This is largely due to supply problems. Metal manufacturers are facing a number of negative factors. One of them is the tightening of environmental policy. Another is the risk of lower production levels.
At the end of 2023, more than 60 countries at COP28 have decided to triple their renewable energy capacity. Citibank estimates this will boost copper demand by 4.2 million tonnes by 2030.
Many experts believe the new oil deposits will be in trouble by 2030. It takes more than 10 years to organize production. The exploration budget today is much lower than in 2012. There is also a tendency to offset production to countries with higher risks. These are Zambia, Panama, etc.
Some analysts predict a severe copper shortage by 2026. This is a bullish copper price forecast 2030. By the year 2030, quotations will be 3 times or more higher relative to the current ones. Even when moderate scenarios are realized, the cost of the metal will still grow. It may reach $12-$15 thousand per metric ton.
The copper price future forecast is bullish. In experts' opinion, the upward trend in prices will continue by 2040. Many contributing factors will influence the market:
All this argues in favor of the fact that copper quotations will grow. Thus, mining companies' stocks can be considered a promising asset.
But one should not forget that the stock exchange analysts are unable to take into account all the issues. New technologies may emerge. The latter can multiply copper production. This will lead to an increase in supply and price stabilization.
The current copper price forecast 2050 is bullish. It will remain so as long as experts predict a shortage in the supply. Today, most analysts are convinced there will be an increase in the cost per tonne relative to current values. No doubt about it.
Copper will remain a sought-after metal even if the green agenda is abandoned. A radical technological breakthrough is the only way to reduce its consumption. As long as the commodity is in demand, it will rise in price over a long time horizon.
The only questions are the price growth rates. There are figures 5-6 times higher than the current ones. No less important is the level of net profit they will provide to mining companies. Today, quotations of miners usually grow faster than the cost per tonne. Analysts believe that stocks of such companies should be in the portfolio of a future investor.
In theory, it is possible to invest in copper through bars and coins. Items made of this metal are available for purchase from some dealers. But owing to the low price, this method is unpopular. For a person with a small capital it is inconvenient because of low liquidity. For a wealthy investor, it is difficult to store a huge number of ingots.
There are some alternate ways to make money on the appreciation of this metal:
The copper mining companies' stock price forecast is directly dependent on the value of copper. Investments in individual issuers or exchange traded funds are the most popular way of investing. But first of all it is proper for long-term investors. For speculators, transactions with futures and options are preferable.
Diversification is the main purpose for which this asset is added to the portfolio. Copper also serves as a hedge against inflation and a bet on industrial growth.
At the beginning of the year, copper quotations were at a record high. Against the backdrop of the international crisis, the price fell more than 2.5 times. It fell to the level of 2005.
The boom in the metals market has not spared copper. At its peak, the cost per tonne on the London Metal Exchange (LME) exceeded $10,000. But in the second half of the year, quotations began to decline. It ended in a sidewall, which lasted until 2020.
Quotes broke through the historical maximum. For the first time since 2011, they exceeded $10 thousand per tonne. One of the reasons is the fear of shortages. They were provoked by strikes in Chile. This country accounts for about a quarter of global copper supplies. The second place is held by Peru. By chance, elections were just approaching in the country. The market's uncertainty about the results stimulated price growth.
Copper is an industrial metal. Therefore, its deficit or surplus is a key factor affecting the price.
Experts disagree on what to expect in the coming years. Some of them predict the emergence of a surplus. They justify it by increasing the volume of metal smelting and stagnation in the economy.
Others argue the copper demand will only grow. They promise a soon supply deficit. There is also a risk of issues arising at African mines. This will lead to lower production levels.
Higher prices are observed in periods of economic recovery. This is due to expectations of industrial development and demand recovery. One of the indicators of the situation is the purchasing managers’ index. A value of more than 50 is a sign of economic growth.
In periods of crisis, the cost per tonne declines. This is caused by a reduction in the level of copper consumption by industry and the emergence of a copper surplus.
The situation in certain key countries is also important. One of the largest consumers of red metal is China. The most important countries in terms of production are Chile and Peru.
Rising interest rates are a pressure factor for the entire precious metals market. The rising cost of money and credit leads to a decline in production.
A strong dollar also contributes to the decline in quotations. World prices are measured in US currency. The higher the DXY index, the more expensive the metal is to consumers in other countries. As a result, the demand for it falls, which leads to a decrease in value.
This is a bullish factor for copper. As technology advances, the demand for this metal is increasing. It is caused by the emergence of new areas of application. For example, it is impossible to produce electric vehicles with no copper. And this area is predicted to grow rapidly in the coming years.
The REPowerEU programme adopted in Europe will also lead to a surge in demand. One of its components is the accelerated construction of solar photovoltaic systems. Copper, along with nickel and lithium, are the most important components.
The copper price forecast for next week is positive. Experts predict a pronounced bullish trend. The market is under the influence of positive expectations. Today red metal is an excellent choice for short-term speculative deals.
Experts give a positive copper price forecast 2024. The market is influenced by inflation expectations and bullish factors. An important role is played by the issues causing concerns about the reduction of production levels. At the same time, there is an understanding that demand for copper will grow.
The long term copper price forecast is bullish. Experts recommend buying the red metal. This is an excellent asset for people with an investment horizon of more than a year. Quotes are predicted to grow steadily. This is due to 2 factors. The first is the expectation of demand strengthening on the part of industry. The second is the inflationary impact, leading to an increase in commodity prices.
In the short and medium term, quotations are affected by multidirectional factors. Recession and intensified geopolitical conflicts may push prices down. But manufacturing activity in China is an important bullish stimulus. Further policy of central banks will also have an impact. When they tighten, a renewal of historic highs in the coming months is unlikely.
In reviews of the global market intelligence, experts promise growth in copper quotations. This is due to the fact that it is increasingly demanded by the industry. An important factor is the high cost of developing new deposits. In the future, mining at a low price will be unprofitable. This means robust demand will push the cost upwards.
Investments in copper should be perceived as a diversification tool. The red metal is hardly one of the assets recommended for a beginner. Nevertheless, experts confidently propose its growth in the long term. Therefore, a person who wants to have a portfolio ready for any situation will be wise to pay attention to copper.
Analysts forecast a more than threefold increase in copper consumption. In their opinion, by 2040, the global industry will need about 77 million tonnes of red metal per year. To compare, at the end of 2022, this figure was only 25 million tonnes.
Among precious metals, gold is recommended for beginners. This asset is predicted to grow in multiples over a horizon of decades. Many experts believe that such an investment will multiply capital. This is a traditional tool for conservative-minded people. It is included in various model portfolios. It is expected that the demand for it will only grow.
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