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UBS: "Copper Is The Commodity Everyone Wants To Own"
Goldman's "circular melt-up" call and its recent upgrade to the 2026 London Metal Exchange (LME) copper price forecast have so far proven correct, as the industrial metal surged above $13,000 a ton with traders continuing to price in tighter global supply and a broader risk-on mood across metals. Three-month LME copper futures rose as much as 3.1% to a record $13,387.50, surpassing the previous record high set just a day earlier. The move is driven by the risk that the Trump administration may impose tariffs on refined copper, prompting a multi-month surge in US inventory and draining supplies from major global ... (full story)
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- Jan 6, 2026 10:50am Posted byFundamental Analysis253
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