Copper Prices Eye $14,000 as Citi Raises Forecast Amid Chinese Restocking

Copper prices on the London Metal Exchange (LME) maintain their position above $13,000 per tonne, supported by recovering Chinese demand. In a fresh update, Citi analysts now predict that prices could reach $14,000 per tonne within the next three months. This additional bullish momentum is attributed to supply-chain restocking in China and increased investor dip-buying activity. The physical market continues to show signs of tightening, with Yangshan copper premiums hitting a two-month high. This trend reflects robust demand from China, the world's largest copper consumer, reinforcing the metal's fundamental floor. Consequently, the combination of industrial demand and strategic investor positioning suggests further upside potential for the red metal in the near term.