Copper price forecast 2030 economic modeling anticipates copper

Economic modeling anticipates copper prices to trend higher through 2030, reflecting both increased consumption and constrained mining capacity. Analysts note copper’s correlation with manufacturing PMI, suggesting sustained bullish conditions if PMI stays above Analysts at Goldman Sachs said earlier this month they expected a tariff of at least 25% to be imposed on imports of copper and many other metals. Growing American reliance on overseas nations for mined, smelted, and refined copper is generating significant supply risks that are restraining the demand for copper tubes in North America. Since there is limited domestic mining and refining capacity, producers of copper tubes are completely dependent on copper imports to service their production requirement. This reliance exposes the supply chain to global market fluctuations, geopolitical instability, and shifts in trade policies, which translate to delayed shipments and irregular supply of raw materials. This unreliability in supply causes slowdowns in production and cost uncertainties for copper tube producers. Periodic variations in copper availability and pricing compel businesses to take a guarded strategy in operations, tending to restrict volumes of production and postpone project timing. Industry reports estimate copper production growth will be limited to under 2% annually, while use in EVs more than doubles by