Goldman Sachs warns copper prices could fall amid Iran conflict
Business
Goldman Sachs is warning that copper prices might drop thanks to the ongoing conflict in Iran, which is shaking up global trade routes and pushing energy costs higher.
Since US and Israeli strikes started, copper has already slipped about 7%, even though it's still trading above its fair value of $11,100 per ton.
Goldman Sachs trims 2026 copper forecast
The bank just lowered its 2026 price forecast for copper from $12,850 to $12,650 per ton.
Right now, copper sits at around $12,400 on the London Metal Exchange.
With no quick end in sight to the tensions, experts say higher energy prices and slower global growth could drag prices down further, plus usual strategies like stockpiling may not be enough to steady things if uncertainty continues.