Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
Copper Price Prediction June 2026: What Experts Are Forecasting
Ruby Layram
3rd Jun 2026
Copper has become one of the most important commodities in the world.
In fact, many investors now view copper as one of the clearest ways to gain exposure to some of the biggest trends of the decade, including artificial intelligence, data centres, electric vehicles, renewable energy and global electrification.
That’s one reason why copper prices have surged to record highs during 2026.
But where could the metal go next?
In this article, I’ll break down the latest copper price forecasts from experts, explain what’s driving prices higher and explore whether copper still looks like a good investment for long-term investors.
What Is Copper Doing Right Now?
Copper has had a remarkable year.
As of early June 2026, copper is trading at record levels, with London Metal Exchange (LME) prices approaching $13,800 per tonne. Recent gains have been driven by supply disruptions, tariff uncertainty and strong demand from industries linked to AI infrastructure and electrification.
The metal has also been caught up in concerns surrounding potential US tariffs on copper imports. This has encouraged stockpiling and increased demand for physical copper, particularly in the United States.
Copper Price Predictions for 2026
Goldman Sachs: $13,735 Per Tonne
One of the biggest copper forecast updates of the past two weeks came from Goldman Sachs.
The bank recently increased its year-end 2026 copper forecast to $13,735 per tonne, more than 10% above its previous target.
Goldman cited:
- Lower mine production
- Disruptions at major mines in Indonesia and the Democratic Republic of Congo
- Stronger-than-expected US copper demand
- Tightening supply outside the US
The bank also significantly increased its estimate for the global copper deficit.
Citigroup: Similar Bullish Outlook
Citigroup has also reportedly raised its copper outlook, citing many of the same supply-side pressures.
Analysts believe that mine disruptions and growing structural demand could continue pushing prices higher throughout the second half of 2026.
Reuters Consensus: Around $12,000 Per Tonne
While some banks are becoming increasingly bullish, broader analyst consensus remains slightly more conservative.
Earlier forecasts compiled from major commodity analysts placed average 2026 copper prices around $12,000 per tonne, still comfortably above long-term historical averages.
Chile’s Copper Commission (Cochilco): $5.55 Per Pound
One notable forecast update came from Chile’s state copper commission, Cochilco.
The organisation recently raised its 2026 copper forecast to approximately $5.55 per pound, reflecting expectations of ongoing supply constraints and strong global demand.
Why Is Copper Rising?
Several powerful forces are pushing copper prices higher.
1. Artificial Intelligence Infrastructure
This is perhaps the most exciting driver.
AI requires enormous amounts of physical infrastructure, including:
- Data centres
- Power grids
- Electrical equipment
- Cooling systems
- Semiconductor manufacturing facilities
All of these require significant amounts of copper.
As AI investment continues accelerating globally, copper demand is rising alongside it. Goldman Sachs recently described copper as a major beneficiary of spending on AI and power infrastructure.
2. Electrification
Copper is often called the “metal of electrification”.
It’s used extensively in:
- Electric vehicles
- Renewable energy projects
- Battery storage
- Grid upgrades
- Charging infrastructure
The global push towards cleaner energy continues creating substantial long-term demand.
3. Supply Problems
At the same time demand is growing, supply has struggled.
Several major mines have experienced disruptions during 2026, including operations in Indonesia and the Democratic Republic of Congo.
These disruptions have led analysts to lower production forecasts and increase deficit estimates.
4. Tariff Uncertainty
Potential US tariffs on imported copper have created unusual market dynamics.
Many buyers have rushed to secure supplies before any potential tariffs are introduced, creating additional demand pressure.
The Bullish Case for Copper
Copper bulls argue that we’re only at the beginning of a much larger trend.
Supportive factors include:
- AI infrastructure spending
- Data centre construction
- Electric vehicle adoption
- Renewable energy investment
- Grid modernisation
- Limited new mine supply
Many analysts believe copper could face structural shortages later this decade as demand outpaces available supply. Goldman Sachs expects demand growth from power infrastructure and AI to remain particularly strong.
The Bearish Case for Copper
There are risks too.
Copper could face pressure if:
- Global economic growth slows
- Industrial demand weakens
- China experiences a prolonged slowdown
- Tariff concerns ease
- New supply enters the market faster than expected
Some analysts still forecast a modest surplus in parts of 2026, highlighting the uncertainty surrounding future supply and demand balances.
Is Copper a Good Investment Right Now?
Personally, I think copper is one of the most interesting long-term investment themes available today.
What attracts me isn’t just the recent price rally.
It’s the fact that copper sits at the centre of so many powerful global trends.
When I think about the next 10 to 20 years, I see:
- More AI
- More data centres
- More electrification
- More renewable energy
- More demand for electricity
And all of those trends require copper.
Of course, commodities can be volatile. Copper prices won’t move in a straight line, and there will almost certainly be pullbacks along the way.
That’s why I wouldn’t build an entire portfolio around copper alone.
However, for investors looking to diversify beyond traditional stocks and gain exposure to global infrastructure growth, copper remains one of the most compelling commodities to watch.
How Can You Invest in Copper?
For most beginner investors, the easiest options include:
Copper ETFs
Copper-focused ETFs offer exposure without needing to buy physical copper.
Examples include:
- Global X Copper Miners ETF
- WisdomTree Copper
- United States Copper Index Fund (for US investors)
Mining Stocks
Many investors prefer copper-producing companies such as:
- Freeport-McMoRan
- Rio Tinto
- BHP
- Antofagasta
These companies can benefit from rising copper prices, although they also carry company-specific risks.
Final Thoughts
Most expert forecasts remain bullish on copper heading into the second half of 2026.
Recent forecasts range from roughly:
- $12,000 per tonne (consensus estimates)
- $13,735 per tonne (Goldman Sachs)
- Potentially higher if supply disruptions worsen
The combination of AI infrastructure, electrification and constrained mine supply continues creating a powerful long-term investment story.
For investors willing to tolerate some volatility, copper remains one of the most important commodities to watch in 2026 and beyond.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Investments can go down as well as up, and you may get back less than you invest. Always conduct your own research before investing.
Leave a Reply