Non-Ferrous

Copper prices are soaring, hitting $5.24 per pound in March 2025, with forecasts from Goldman Sachs and Morgan Stanley predicting further rises to $6.81 per pound or $10,200 per tonne by year-end, driven by supply deficits and EV demand. Global supply faces challenges, with a projected 30% shortfall by 2035, low inventories (under four days of consumption), and disruptions in Chile and Peru. Geopolitical risks, including U.S.-China trade tensions and China’s refining dominance, add volatility, while recycling grows at a 4.2% CAGR. Steencore recommends securing long-term contracts, diversifying sources, and leveraging sustainable practices to navigate these dynamics. Our operations in Peru and Sub-Saharan Africa ensure a reliable copper cathode and concentrate supply. The accompanying chart tracks Q1 2025 price trends, and a proposed image of a Peruvian mine highlights our operational strength. Visit Steencore Group for tailored solutions.

One very important remark before we look into our copper price forecast for 2019: copper is, similar to silver, a restless metal. It does not rise often, but once it starts rising it goes up extremely fast in a very short time period. We do not want to be invested in the copper market for an extended period of time because the probability of profits is low. That’s why copper is, by far, a market to enter and exit by its chart setups. This is relevant to practically any market in the world, but it applies much more to copper is our point.