Goldman Sachs says latest disruption means that the risks to its December 2025 LME copper price forecast of $9,700/t are weighted to the upside and should settle in a $10,200–10,500/t range
- Expects a 250–260kt loss of copper production from Grasberg in 2025, from its previous production forecast of 700kt
- Says after adjusting for disruption allowances, it incorporate a 160kt downgrade to its H2 2025 global mine supply forecast & a 200kt downgrade to its 2026 forecast.
- Lowers its 2025/2026 Coppper mine production growth forecast to +0.2/1.9% y/y, from +0.8/2.2% previously
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This article was written by Eamonn Sheridan at investinglive.com.
