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UBS Forecasts High Copper Prices Amidst Supply Challenges
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Overview
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UBS forecasts copper pricing amidst supply challenges, predicting a target of $9,500/mt for copper. The collapse in treatment charges reflects a tighter concentrated market, potentially leading to lower refined supply. Global copper consumption is expected to increase by 3.3% in 2024, supported by a manufacturing recovery in Europe and the US.
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How might the collapse in treatment charges impact the copper industry?
What are the potential implications of lower refined supply for global copper consumption?
What factors are contributing to the persistent market deficit in copper?
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