Copper prices have topped US$10,000 per tonne for the second time in a fortnight but analysts including Goldman Sachs are predicting that there’s still a long way to go. Goldman’s latest forecast is for the red metal to reach US$12,000/t by the end of 2024 and then US$15,000/t in 2025. The last time copper went into five figures was in March 2022, when the Russian attack on Ukraine began and there were fears of supply disruption. The metal topped out at US$10,845/t at that time. Back then, the force behind copper’s price was geopolitical risk; this time it is the looming and widening supply-demand deficits that have ... (full story)