Why are Copper Prices so high?
30-01-2026 - Over the past month, copper prices have seen a notable increase, climbing from $12,598.37/t to $13,524.24/t. This rise suggests either strong demand or supply constraints are influencing the market. However, the forecast anticipates a price decrease to $13,252.92/t, a 2.0% drop from the current $13,524.24/t, indicating a potential downward trend. This forecast highlights the risk of market volatility affecting raw material prices.
The current market outlook presents mixed signals. Technical data points to upward price pressure on raw materials, with an impact of $152.57/t. Conversely, data on demand, flows, and supply suggest downward pressure, with impacts of -$14.77/t, -$21.77/t, and -$149.74/t, respectively.
Goldman Sachs Research predicts a decline in copper prices by 2026 from recent highs. They expect the London Metals Exchange (LME) copper price to average $10,710 in the first half of 2026, with fluctuations between $10,000 and $11,000 per metric ton throughout the year. This outlook is driven by a projected global supply surplus and potential U.S. tariffs on refined copper imports.
Overall, this analysis aligns with the forecast of a downward trend in copper prices over the next month.
The current market outlook presents mixed signals. Technical data points to upward price pressure on raw materials, with an impact of $152.57/t. Conversely, data on demand, flows, and supply suggest downward pressure, with impacts of -$14.77/t, -$21.77/t, and -$149.74/t, respectively.
Goldman Sachs Research predicts a decline in copper prices by 2026 from recent highs. They expect the London Metals Exchange (LME) copper price to average $10,710 in the first half of 2026, with fluctuations between $10,000 and $11,000 per metric ton throughout the year. This outlook is driven by a projected global supply surplus and potential U.S. tariffs on refined copper imports.
Overall, this analysis aligns with the forecast of a downward trend in copper prices over the next month.
What is the current / spot price of Copper?
Copper Price Today
January 30, 2026
Current Price
13524.24
$/t
What is the forecast for the price of Copper?
Copper Price Forecast
January 30, 2026
1 Month Forecast
13252.92
$/t
1 Year Forecast
12217.54
$/t
What are the short-term drivers of Copper prices?
Over the 1 Month horizon the outlook is bearish due to drivers such as: - Copper (CMX) - Copper Ore exports from Peru Br(None) The top contrary drivers for the 1 Month horizon are: - EWMA-based technical analysis - Copper Cathodes exports from Peru - Copper Ingots exports from Peru
What are the long-term drivers of Copper prices?
Over the 1 Year horizon the outlook is bearish due to drivers such as: - EWMA-based technical analysis - Movements in the Chinese Yuan - Copper LME Closing Stock - Satellite-observed activity in Beunavista Del Cobre Mine - Short term price trends Br(None)
Will the price of Copper go up?
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