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News  ›  Benzinga

Short-Term Skepticism Persists Despite Copper's Explosive Start

Benzinga Logo Benzinga By Stjepan Kalinic
Short-Term Skepticism Persists Despite Copper's Explosive Start

Copper rallied above $13,000/ton to start 2026, with major miners like Southern Copper and Freeport-McMoRan gaining 3-5%. However, analyst firm BMI maintains a cautious 2026 price forecast of $11,000/ton, citing macroeconomic headwinds including US dollar strength and slowing Chinese growth, despite acknowledging long-term structural deficits supporting prices toward $17,000/ton by 2034.

Insights
CGTX   neutral

Mentioned as previous employer of new CFO, no specific company performance details provided


SCCO   neutral

Stock gained 3.83% on copper rally, but sentiment is tempered by analyst concerns about demand slowdown in China and macroeconomic headwinds that could cap upside potential in 2026.