Bank of America Estimates that Copper Will Exceed US$ 7 by the End of 2027, but Reaffirms a Weaker Price for Lithium

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The financial institution projects a deficit of 397,000 tons of copper this year, with a stagnant global production. By 2027 it projected a slight surplus, which will be greater in the case of lithium.

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Bank of America states that the copper market is fundamentally unbalanced and raises its long-term forecast by 20 percent to $12,000 per ton. This is not a temporary price shock but a structural deficit that the bank expects supply will never fully cover. BofA already sees the copper price rising to $15,250 per ton by 2027. This is a sharp escalation from the current futures price of $6.58 per pound. The long-term forecast of $5.44 p..