Article

J.P. Morgan has increased its long-term copper price forecast by 9.1% to $12,000 per tonne due to worsening supply deficits and rising capital costs. The global copper market deficit is expected to reach 2 million tonnes by 2030 and up to 8 million tonnes by 2035.

Argentina is highlighted as a key growth area for copper supply, with significant projects under development. Global copper consumption is projected to grow by 3% annually, driven by electrification and renewable energy demands.