---
title: "Goldman Sachs raises its copper price forecast for the end of the year while maintaining a bearish outlook on aluminum prices"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/266861366.md"
description: "Goldman Sachs raised its copper price target for December 2025 to USD 10,610 per ton, expecting a copper supply shortage and demand growth. Goldman Sachs maintains its expectation of USD 10,000 to 11,000 per ton for 2026 to 2027, with a target of USD 15,000 per ton by 2035. Goldman Sachs expects aluminum prices to soften, dropping to USD 2,350 per ton by the end of 2026, and not rebounding until the next decade. Copper has become a key driver of global economic growth"
datetime: "2025-11-21T07:05:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266861366.md)
  - [en](https://longbridge.com/en/news/266861366.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266861366.md)
---

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# Goldman Sachs raises its copper price forecast for the end of the year while maintaining a bearish outlook on aluminum prices

According to the Zhitong Finance APP, Goldman Sachs has just raised its target for copper prices in December 2025 to USD 10,610 per ton, reflecting its optimistic outlook on copper prices; meanwhile, the bank expects aluminum prices to soften as new supply enters the market.

Goldman Sachs predicts that copper supply will continue to be in short supply, while demand from key sectors such as renewable energy and electric vehicles will continue to grow. The bank maintains its expectation of USD 10,000 to 11,000 per ton for 2026 to 2027 and anticipates a long-term target of USD 15,000 per ton by 2035—far higher than most other forecasts. This bullish view is based on many delayed mining projects being shelved, leading to supply shortages in the future. On the other hand, Goldman Sachs expects aluminum to face challenges: due to anticipated new supply, Goldman Sachs now expects aluminum prices to fall to USD 2,350 per ton by the end of 2026, only rebounding to 2025 highs at some point in the next decade.

As the transition to clean energy accelerates, metals like copper are becoming key drivers of global economic growth—ubiquitous from electric vehicles to smart grids. Goldman Sachs' forecasts indicate that project delays and supply chain gaps are affecting the entire economy. For governments and businesses focused on long-term infrastructure development, ensuring the supply of these critical resources is rapidly becoming a strategic imperative

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