Deutsche Bank sees copper prices rising toward $22,050
In short
Deutsche Bank says copper prices could rise further and may reach $22,050 per metric ton by Q2 2027. The report points to low inventories, U.S. stockpiling, and weak mine supply as reasons.
This matters because tighter supply can push costs higher for buyers and support miners and traders. The reporting says supply for global users could tighten sharply by 2028, but it does not say how fast that will happen.
What the reporting says
Deutsche Bank projected copper could reach $22,050 per metric ton by Q2 2027, as low inventories, U.S. stockpiling, and constrained mine supply tighten the market. The report says supply available to global users could exhaust sharply by 2028. The immediate consequence is a more bullish price outlook for copper users and traders, though the timing and extent of the squeeze remain uncertain.
Why it matters
Deutsche Bank expects copper to rise to $22,050 per metric ton by Q2 2027, citing historically low inventories, U.S. stockpiling, and constrained mine supply. The report says competition for spot metal is intensifying and that supply available to global users could tighten sharply by 2028. The outlook is relevant for industrial users, miners, and metals traders, but the reporting does not confirm actual future supply levels.