UBS raises copper outlook as mine disruptions deepen supply deficits

From Reuters

UBS expects copper prices to rise into next year, citing tightening supply from persistent mine disruptions and strong long-term demand from electrification and clean-energy investment, the bank said in a note on Friday.

In its updated projections, UBS raised its March 2026 price forecast by $750 per metric ton to $11,500, increased its June and September 2026 targets by $1,000 a ton to $12,000 and $12,500, respectively, and introduced a new December 2026 target of $13,000 per ton.