Citi Downgrades Copper Price Forecasts

Foreks - Citigroup has revised its forecasts for copper prices downward. Expecting copper prices to decline to the range of $8,500-$9,000 per ton by the end of the year, Citi has lowered its copper price forecast for the 0-3 month period from $9,500 per ton to $8,500 per ton. Additionally, Citi has reduced its average copper price forecast for the fourth quarter of 2024 from $9,500 per ton to $9,000 per ton.