Copper is getting a uniformly bullish read from published research this week, with both fundamental and technical analysis pointing higher.
On the fundamentals, one camp of analysts argues the setup is strengthening: inventory drawdowns in China suggest demand is stabilizing, electrification from EVs and data centers remains a structural tailwind, and a less-discussed risk is brewing around sulphuric acid supply — much of it sourced from the Gulf and exposed to ongoing Strait of Hormuz disruptions. That same research lays out a longer-dated path, with a projected local peak of US$13,350/t by March 2027 as net-zero demand and supply tightness compound through 2026–2027.
A separate technical read reinforces the direction over shorter horizons. Researchers there flag that copper has broken its downtrend line with a gap above 12,340 — described as a bullish signal, with the short-term trend firmly positive and the medium-term neutral-to-bullish as price approaches overhead resistance, where some consolidation could follow.