Wall Street Logic
  • Home
  • Metals and Mining
  • Crypto
  • Alternative Investments
  • Financial Literacy
  • AI
  • Featured Companies
    • Apollo Silver Corp.
    • NorthWest Copper Corp.
    • Spirit Blockchain Capital Corp.
    • West Point Gold Corp.
No Result
View All Result
Wall Street Logic
  • Home
  • Metals and Mining
  • Crypto
  • Alternative Investments
  • Financial Literacy
  • AI
  • Featured Companies
    • Apollo Silver Corp.
    • NorthWest Copper Corp.
    • Spirit Blockchain Capital Corp.
    • West Point Gold Corp.
No Result
View All Result
Wall Street Logic
No Result
View All Result

Citi Predicts Copper Price Surge to $10,000/t

Wall Street Logic by Wall Street Logic
August 18, 2024
in Metals and Mining
Citi Predicts Copper Price Surge to ,000/t
2
SHARES
37
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Rise in Copper Prices to $10,000 per Tonne Due to China’s Support

Despite the recent decline in global manufacturing data, Citi analysts anticipate that copper prices will rebound in the near future, potentially reaching $10,000 per tonne once more. This optimistic projection is predicated on the expectation of policy support from China.

You might also like

Silver’s Long-Awaited Breakout: Inflation Fears and Market Dynamics Drive the Gray Metal Higher

The Mining Paradox: Why Critical Metal Producers Struggle Despite The Green Energy Boom

Trump’s Deep-Sea Mining Push Sparks International Controversy and Geopolitical Tensions

“We expect copper to retest $10k/t in the weeks ahead as we expect incremental China policy support for domestic property and grid investment at key policy meetings in mid-July,” according to Citigroup.

It is anticipated that this policy liberalization, which is notably focused on renewable energy infrastructure enhancements, will be disclosed at China’s Third Plenum meeting in mid-July.

Copper Prices Set to Rebound Amid Decarbonization Demand

Citi recognizes the recent decrease in copper prices as a result of the weakening of global manufacturing data. Nevertheless, they are of the opinion that this decline is only transient. They note that the stagnant cyclical demand is being counteracted by the increasing copper consumption, which is being led by demand in the decarbonization sector. This serves as a source of encouragement.

Despite the potential weakening of cyclical demand in June, Citi reports that overall copper consumption for the first half of 2024 remains robust at approximately 4% year-over-year growth. Although there is a decline in consumption outside of China, China’s emphasis on electric vehicles and renewable energy sources continues to be a substantial factor.

Volatile Iron Ore Prices Amid Weak Steel Demand

In contrast, the outlook for iron ore is less favorable. Citi anticipates volatility in the lead-up to the Third Plenum, with potential upside exceeding potential downside. They maintain a price target of $95 per tonne for the next three months, citing weak Chinese steel demand and increasing inventories. Steel production constraints and a potential housing market oversupply further undermine the outlook for iron ore.

Share1Tweet1Share

Recommended For You

Silver’s Long-Awaited Breakout: Inflation Fears and Market Dynamics Drive the Gray Metal Higher

by Wall Street Logic
June 9, 2025
59
Silver’s Long-Awaited Breakout: Inflation Fears and Market Dynamics Drive the Gray Metal Higher

After experiencing multiple false starts and disappointing performances even as gold reached unprecedented all-time highs, silver has finally begun what many analysts believe to be its long-awaited breakout....

Read moreDetails

The Mining Paradox: Why Critical Metal Producers Struggle Despite The Green Energy Boom

by Wall Street Logic
June 2, 2025
65
The Mining Paradox: Why Critical Metal Producers Struggle Despite The Green Energy Boom

On paper, the mining industry should be experiencing unprecedented prosperity. The world stands at the precipice of the largest industrial transformation in modern history, as governments and corporations...

Read moreDetails

Trump’s Deep-Sea Mining Push Sparks International Controversy and Geopolitical Tensions

by Wall Street Logic
May 26, 2025
45
Trump’s Deep-Sea Mining Push Sparks International Controversy and Geopolitical Tensions

The global race for critical minerals has taken a dramatic turn toward the ocean floor, as U.S. President Donald Trump's administration moves aggressively to challenge China's dominance in...

Read moreDetails

Military Demands Reshape Metals Market: Western Nations Face Critical Supply Chain Vulnerabilities

by Wall Street Logic
May 19, 2025
50
Military Demands Reshape Metals Market: Western Nations Face Critical Supply Chain Vulnerabilities

In a global landscape increasingly defined by geopolitical tensions and military conflicts, the demand for metals critical to modern warfare has undergone a dramatic transformation. This shift has...

Read moreDetails

Gold’s Rise and Oil’s Fall: An Overlooked Recession Signal Grows Stronger

by Wall Street Logic
May 12, 2025
33
Gold’s Rise and Oil’s Fall: An Overlooked Recession Signal Grows Stronger

The financial markets are often said to be forward-looking, with asset prices reflecting not just current conditions but expectations about the future. Among the many indicators that analysts...

Read moreDetails
Next Post
Netflix Eliminates Budget-Friendly Ad-Free Streaming Option

Netflix Eliminates Budget-Friendly Ad-Free Streaming Option

Browse by Category

  • AI
  • Alternative Investments
  • Crypto
  • Featured Companies
  • Financial Literacy
  • Metals and Mining
  • Uncategorized

CATEGORIES

  • Metals and Mining
  • Crypto
  • Alternative Investments
  • Financial Literacy
  • AI

Recent Posts

  • AI Revolution in Finance: From Ancient Incan Records to Modern Credit Scoring Innovation
  • From Napster to Fintech: How Banking Can Learn from Music’s Digital Revolution
  • The Retail Revolution in Alternative Assets: Opportunities and Systemic Risks
  • Stablecoins and Treasury Markets: The Growing Intersection of Crypto and Government Debt
  • Home
  • Blog
  • About Us
  • Privacy Policy
  • Terms & Conditions

© 2024 Wallstreetlogic.com - All rights reserved.

No Result
View All Result
  • Home
  • Metals and Mining
  • Crypto
  • Alternative Investments
  • Financial Literacy
  • AI
  • Featured Companies
    • Apollo Silver Corp.
    • NorthWest Copper Corp.
    • Spirit Blockchain Capital Corp.
    • West Point Gold Corp.

© 2024 Wallstreetlogic.com - All rights reserved.