Meanwhile, a total of 89% surcharge was agreed for 2025
In the opinion of our channel's analysts, the rise in copper prices highlights recent supply disruptions at large mines (which led to a persistent negative TC/RC spot in China in 2025, as well as steady demand trends worldwide. Taking into account both short-term and long-term positive market indicators, we maintain a positive outlook and expect prices to reach 12 300/12 500 per tonne in 1H26
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