Citi Cuts Three-Month Copper Forecast to $13,300 per Tonne, Sees Surpluses in 2027 and 2028

According to Jin10, Citi lowered its copper price forecast for the next three months to $13,300 per tonne from $14,500 and expects copper market surpluses in 2027 and 2028. Citi had previously held a neutral view on copper, forecast a short-term price of $14,000-$15,000 per tonne, and expected stronger copper supply growth in 2027.