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Copper flat as China caution outweighs US stockpiling, Goldman upgrade
Copper held steady on Tuesday as cautious buying in China at high prices offset Goldman Sachs’ raised price forecasts and swelling US inventories ahead of potential import tariffs. Three-month copper on the London Metal Exchange was flat at $14,339.50 a metric ton, while the most-traded November copper contract on the Shanghai Futures Exchange fell 0.53% to 109,270 yuan ($16,360) a ton, as of 0330 GMT. Goldman Sachs raised its end-2026 copper price forecast to $14,700 a ton and its 2027 average to $15,400, citing weaker mine supply and tightening markets outside the United States. It expects d...
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