According to JPMorgan forecasts, LME copper prices are expected to reach $12,000 per metric ton in Q1 2026, driven by supply constraints and increasing demand.
The LME CEO states that most copper price action is supply-driven, with electrification trends and grid monetization being key demand-side factors contributing to market volatility.
While copper is predicted to reach $12,000, aluminum prices are expected to approach $3,000, showing parallel growth but with different supply-demand dynamics in the metals market.