Citigroup notes that, driven by bullish momentum, copper prices will rise to $1.4 million per ton over the next three months, but unless new catalytic factors emerge, copper prices may peak this month. The bank's analyst Max Layton and others said in the research report that Citi maintained its forecast of an average copper price of 13,000 US dollars per ton in the second to fourth quarter of the London Metal Exchange. Citi said that market momentum, further upward position space, and a solid bullish logic “are all expected to drive copper prices to continue to rise in the short term.”

Citigroup notes that, driven by bullish momentum, copper prices will rise to $1.4 million per ton over the next three months, but unless new catalytic factors emerge, copper prices may peak this month. The bank's analyst Max Layton and others said in the research report that Citi maintained its forecast of an average copper price of 13,000 US dollars per ton in the second to fourth quarter of the London Metal Exchange. Citi said that market momentum, further upward position space, and a solid bullish logic “are all expected to drive copper prices to continue to rise in the short term.”