Copper price forecast 2030 this supply-demand imbalance underlies

This supply-demand imbalance underlies copper price forecast 2030 projections of $12,000+/ton. In a note last weekend, they remained "tactically cautious" about the metal, adding: "Any focus on China or a hawkish line on reciprocal tariffs will be negative for copper prices." Financing remains a major barrier, says Kaderavek. “The cobalt price signal creates an incentive for development, but this is at least two or three years away. So cobalt’s outlook is one of very stunted growth for the Western world, because even once we get incentive pricing, lenders need confidence that that pricing will remain.” Analysts expect copper prices to maintain an upward trajectory towards 2030, driven by surging demand in electric vehicles, renewable energy grids, and infrastructure upgrades. Current market projections suggest an average copper price range of $11,000–$13,500 per metric ton by 2030, assuming steady global GDP growth and limited supply expansion.