EUR/USD likely to find a peak near 1.25: UBS
Investing.com - UBS maintained its copper price forecasts through the second quarter of 2026 while introducing a new end-September 2026 target of $11,000 per metric ton, according to a research note released Thursday.
The investment bank noted that London Metal Exchange (LME) copper prices have lacked clear direction in the second half of this year, primarily due to demand headwinds and rising LME inventories that have constrained price growth.
UBS kept all its existing copper price forecasts unchanged through the second quarter of 2026, suggesting the bank maintains its previous outlook despite current market conditions.
The bank cited tightness in the copper concentrate market as a key factor that, combined with an anticipated demand recovery next year, should provide underlying price support in the second half of 2026.
For investors, UBS recommended strategies that monetize downside price risks for yield enhancement, indicating a cautiously optimistic stance on copper’s medium-term prospects despite near-term challenges.
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