Fitch's BMI is optimistic about the boost to the US dollar in the second half of the year, raising the copper price expectation to $9600
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Fitch's BMI has raised its 2024 copper price forecast to $9600 per ton, mainly due to market expectations of a rate cut by the Federal Reserve. However, copper prices will be limited by Chinese market demand. In the long term, BMI expects copper prices to reach $17,000 per ton by 2033, as strong demand prospects and structural deficits persist. In addition, oil prices have stabilized after being less affected by Hurricane Belial
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