Consensus S&P price forecasts – US-China trade pact lifts industrial metals prices (12 June 2025)
The London Metal Exchange three-month (LME 3M) copper price recovered to reach a monthly peak of US$9,610.00 per metric ton on May 23 as relaxed US-China trade barriers signaled renewed opportunities for copper trade. However, slowing manufacturing activity in the US and China amid lingering concerns over potential tariff impacts, a sluggish China property market and elevated refined supply, particularly in the US, limited price support.
Consensus price forecasts for copper have been downgraded 0.3% on average for 2025–28 and adjusted 3.0% higher for 2029.
Source: https://www.spglobal.com/market-int...ina-trade-pact-lifts-industrial-metals-prices
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