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<Research>UBS Lifts Copper Price Forecasts on Possible Tightened Supply, Raises Earnings Estimates & TPs for Copper Miners
UBS has released a report raising its 2026-28 copper price forecasts by 8%/ 19%/ 11% to USD11,464/ USD13,095/ USD12,809 per ton.The broker's adjustment was intended to reflect ...
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<Research>UBS Lifts Copper Price Forecasts on Possible Tightened Supply, Raises Earnings Estimates & TPs for Copper Miners
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UBS has released a report raising its 2026-28 copper price forecasts by 8%/ 19%/ 11% to USD11,464/ USD13,095/ USD12,809 per ton.

The broker's adjustment was intended to reflect tightening industry fundamentals mainly due to reduced production guidance from Indonesia's Grasberg mine, accidents at Congo (DRC) Kamoa Kakula and Chile's El Teniente mines, and protests in Peru this year, which may exacerbate short-term supply risks for mines.

Related NewsUBS: Gold Trade Not 'Extremely Crowded'; De-dollarization/ Debasement Trade to Support Gold Asset Allocation Demand
UBS raised its earnings estimates for ZIJIN MINING (02899.HK)  -0.420 (-1.272%)    Short selling $823.12M; Ratio 27.352%   , CMOC (03993.HK)  -0.860 (-5.566%)    Short selling $85.89M; Ratio 8.185%   , and JIANGXI COPPER (00358.HK)  -1.560 (-4.745%)    Short selling $129.02M; Ratio 10.426%   by 4% for 2025 and by 11-13% for 2026. ZIJIN MINING's target price was increased by over 30% to HKD47.4. CMOC's target price was elevated to HKD20.5. JIANGXI COPPER's target price was sharply lifted by 75% from HKD28.5 to HKD50. All of them were rated as Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-10-17 16:25.)

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