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Barclays Predicts 78% Copper Price Surge in Bull Market
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May 2, 2024 – Barclays, a major financial institution, has issued a notably bullish call on copper: a potential 78% price increase in the current bull cycle. This isn’t just a minor tweak; itS a significant shift in viewpoint from a major financial institution.
Copper’s Coming Rally: What’s Driving the Forecast?
Barclays anticipates a substantial 78% increase in copper prices during the current bull cycle, fueled by supply constraints and growing demand.
The investment bank now anticipates that base metals will enter a bull market, driven by a combination of factors including inventory levels, demand from the energy transition, and the potential for supply disruptions.Barclays raised its three, six, and 12-month price targets for copper, citing a tighter supply-demand balance.
Supply Constraints and Demand Dynamics
According to the report, the current market is
