Citi says copper is heading to $15,000 a ton — load up on copper miners
Citigroup analysts just raised their copper price target to $15,000 per metric ton within a year, citing strong demand. Meanwhile, potential U.S. copper tariffs are also keeping prices elevated as traders stock up.
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Citi is one of the biggest banks on Wall Street, and their call for copper at $15,000 per ton within a year is well above where it trades now — signaling they see significant upside. Copper demand is being driven by AI data centers, electric vehicles, and global infrastructure spending. On top of that, the possibility of U.S. import tariffs on copper is pushing buyers to stock up before any duties kick in. Copper miners like Freeport-McMoRan and Southern Copper tend to amplify the metal's moves, so even a modest rise in copper prices can mean a bigger jump in these stocks.