Copper prices could rise 50% according to Deutsche Bank forecast

Deutsche Bank has issued an optimistic forecast for copper prices, suggesting they could rise by more than 50% to reach $22,050 per ton. Daniel Ghali, head of metals analysis, noted that the peak of this rally could occur in the second quarter of 2027, with average prices for 2027 estimated at approximately $20,900 per ton.

This potential surge could significantly impact metal producers, including the Polish mining giant KGHM. While KGHM reported a net profit of 5.6 billion PLN for the first half of 2026, higher copper prices could further boost company margins.

Supply concerns are contributing to market volatility. In Chile, the world's largest copper producer, there is an increasing risk of strikes. Specifically, workers at the Centinela mine, owned by Antofagasta, have rejected a final wage proposal, creating potential disruptions to the global supply.