UBS has maintained its positive outlook on , forecasting prices to remain above $10,500 per metric ton by mid-2026, according to a report released Monday.

The financial services firm continues to favor volatility-selling strategies linked to copper, indicating confidence in its price stability despite recent market fluctuations.

UBS noted that the latest tariff measures, which became effective August 1, specifically target semi-finished copper products and copper-intensive derivatives, while exempting copper cathode and input materials such as ores and concentrates.

The report emphasized that copper’s broader fundamentals continue to signal the market remains in deficit for 2025 and 2026, suggesting strong underlying demand relative to available supply.

These market conditions lead UBS to conclude that any further price pullbacks should be shallow and present buying opportunities for investors looking to gain exposure to the industrial metal.
Source: Investing.com