$14,800 per tonne: JP Morgan forecasts peak copper price this year
JP Morgan predicts a record high of $14,800 per tonne for copper later this year. AI-driven demand is driving a multi-commodity boom alongside gold prices holding near $4,385.
Artificial intelligence and data centre requirements are pushing industrial metals toward fresh highs. Copper recently touched $14,527 per tonne. JP Morgan predicts a peak of $14,800 per tonne later this year. Zinc, tin, aluminium, uranium, rare earths, and other critical minerals are trading at multi-year highs. Supply deficits are expected to grow large. Gold prices hold strong around $4385 per ounce despite a hawkish US Federal Reserve address at Jackson Hole last month. The anticipation is building for small cap resources and commodity investors ahead of the Resources Rising Stars Conference on the Gold Coast next week. Read Corporate CEO Nicholas Read said the AI boom was one of the biggest surprises over the last 12 months. He believes the speed at which AI has taken hold of the economy supports long-term commodity strength.
