UBS raises copper price target due to supply shortage outlook

LootboxPhobia · 2026-02-27T11:21:14+00:00

UBS raises copper price forecast by $500 per ton, expecting the price to reach $15,000 by 2027. Despite short-term caution, the company remains optimistic about the year-on-year increase in copper prices and maintains a bullish position. At the same time, it adjusts the supply shortage forecast, expecting it to reach 520,000 metric tons by 2026.

LootboxPhobia

2026-02-27 11:21:14

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Investing.com - UBS has raised its copper price forecasts for all time periods by $500 per metric ton, now expecting prices to reach $15,000 per metric ton by the end of March 2027. The investment bank maintains an optimistic outlook and recommends investors hold long positions in copper.

Although cautious in the short term, the company expects copper prices to rise year over year. The recent upward momentum in copper prices has paused, and high prices are expected to persist until 2026, with seasonal declines around the Chinese Lunar New Year leading to a consolidation phase.

UBS has updated its supply and demand forecasts based on the latest available data. The company now predicts that the supply shortfall in 2025 will slightly decrease to about 200,000 metric tons, down from the previous estimate of 230,000 metric tons.

The investment bank has raised its 2026 supply shortfall forecast to 520,000 metric tons from the previous estimate of 407,000 metric tons. The widening supply gap supports the bank’s bullish outlook on this industrial metal.

UBS recommends clients maintain long positions in copper based on the revised supply and demand fundamentals. The updated forecast reflects an expectation that high prices will continue throughout 2026.

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