---
title: "Citigroup: Optimistic about copper prices in the short term, expects to reach USD 14,000 per ton in the next three months"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/276845819.md"
description: "Citigroup released a research report stating that it is optimistic about copper prices in the short term, expecting them to reach USD 14,000 per ton in the next three months, while maintaining its average price forecast of USD 13,000 per ton for copper this year. It believes that the risk-reward is tilted towards bullish in the short term, with investors likely to buy on dips, and that the replenishment of inventory in the Chinese supply chain after the Spring Festival will support copper prices. It is expected that last year's copper end-use consumption will grow by 3.3% year-on-year, and this year's growth will be 2.3% year-on-year. Although manufacturing confidence has not yet improved, it is anticipated that manufacturing sentiment will improve with the Federal Reserve's interest rate cuts and the easing of tariff frictions"
datetime: "2026-02-25T07:06:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/276845819.md)
  - [en](https://longbridge.com/en/news/276845819.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/276845819.md)
---

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# Citigroup: Optimistic about copper prices in the short term, expects to reach USD 14,000 per ton in the next three months

According to the Zhitong Finance APP, Citigroup has released a research report stating that it is optimistic about copper prices in the short term, expecting them to reach USD 14,000 per ton in the next three months. Although it is difficult to accurately judge price trends, it believes that the risk-reward ratio is tilted towards bullish in the short term, anticipating that investors will take advantage of lower prices to buy, coupled with the replenishment of inventory in China's supply chain after the Spring Festival, which will support copper price trends.

Citigroup believes that the downside risk for copper prices is limited, while the upside risk is viewed positively. This is due to investors' optimistic attitude towards the cyclical growth of copper prices, as well as factors such as de-dollarization, currency depreciation, and resource security, leading them to build more positions in physical assets. Additionally, potential supply disruptions further contribute to upward pressure. Therefore, it maintains its average price forecast for copper at USD 13,000 per ton for this year, believing that this price is sufficient to keep the global copper market's physical supply roughly balanced.

Furthermore, according to Citigroup's tracking data, although December data was weak, it is expected that last year's copper end-use consumption will grow by 3.3% year-on-year, with a forecasted growth of 2.3% this year, mainly due to a moderate recovery in cyclical copper consumption later this year and increased copper consumption driven by artificial intelligence, offsetting the slowdown in growth in the power generation and electric vehicle sectors.

Citigroup's tracking data also shows that last year, consumption related to energy transition is expected to grow by 19% year-on-year, while cyclical consumption is expected to rise by about 1% year-on-year. Although there have not yet been substantial signs of improvement in manufacturing confidence as indicated by the manufacturing purchasing managers' index, it is expected that manufacturing sentiment will improve this year with the Federal Reserve's interest rate cuts and easing of tariff frictions

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