https://newsletter.en.creamermedia.com
Copper|Industrial|Iron Ore|Steel
Copper|Industrial|Iron Ore|Steel
copper|industrial|iron-ore|steel

Copper extends gains as Goldman sees 2025 price peak in August

26th June 2025

By: Bloomberg

  

Font size: - +

Copper extended gains for a fifth day, after Goldman Sachs Group said it expected prices to rise to a 2025 peak of around $10 050 a ton in August, as supplies outside the US tighten.

Traders of copper are experiencing a major squeeze on the London Metal Exchange after premiums for spot contracts spiked. The supply tightness is being driven by record shipments to the US after proposals for tariffs fueled a surge in prices there, draining other inventories.

“The ex-US copper market has tightened, causing fears of a regional copper shortage despite the global market currently being in surplus,” Goldman analysts including Eoin Dinsmore wrote in a note on Thursday.

Prices are expected to keep rising due to tariff-driven reductions in stock outside the US and relatively resilient Chinese sentiment and activity, the Goldman analysts added. A 25% tariff implemented on US copper imports by September could then see copper decline to around $9 700 a ton by December, they said.

LME copper spreads have eased this week, taking some of the strain off buyers who’ve seen prices of spot contracts rising in recent days.

Copper rose 0.4% to $9 749 a ton on the LME as of 10:17 a.m. in Shanghai. Most other industrial metals were also higher, with nickel up 0.8% and aluminum gaining 0.2%.

Meanwhile, iron ore in Singapore slipped 0.2% to $92.55 a ton. Contracts in Dalian also dipped, along with steel futures in Shanghai.

Edited by Bloomberg

Comments

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.123 0.216s - 184pq - 2rq
Subscribe Now