Copper Prices Surge, But Goldman Sachs Sees a Bubble

Copper prices hit record high, but Goldman Sachs predicts a drop: Despite surging past $11,000 a ton, driven by supply concerns and tariff fears, investment bank Goldman Sachs warns that most of this increase is based on future market expectations. They predict prices will stabilize between $10,000 and $11,000 a ton in 2026. Meanwhile, copper edged slightly higher on Thursday, and mining stocks in the Asia-Pacific region saw increases. However, overall demand for copper has slowed, with a significant decline in Chinese consumption anticipated in the fourth quarter of this year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.