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BNP Paribas warns of a potential collapse in copper prices, forecasting a drop to $8,500 per tonne by the end of Q2 2025 as US demand slows following the anticipated imposition of tariffs. The bank has revised its global copper consumption growth estimate down to 2.3% and projects a supply surplus of 460,000 tonnes. While some analysts remain optimistic about copper's long-term prospects due to electrification trends, the immediate outlook is clouded by trade policy impacts.
Copper prices are expected to "collapse" as a rush to ship the metal to the US ahead of impending tariffs concludes. BNP Paribas forecasts prices will drop to $8,500 a ton by the end of Q2 2025, citing a significant surplus as US trade policies dampen demand. The firm has revised its copper consumption growth estimate down to 2.3% for the year, reflecting concerns over reduced global trade and economic growth.
David Wilson
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copper prices expected to collapse as us tariffs approach
18:20 28.03.2025
copper prices predicted to collapse as us tariffs approach
17:04 28.03.2025
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