Copper The Next Silver? Industrial Metal Poised For Massive Price Surge In 2026—Here's Why
Copper, the widely-used industrial metal, widely used in power, construction as well as manufacturing, is gained 3.2% last week and is up more than 35% in 2025.
After a record-breaking bullish run by precious metals this year, copper is seen as the next big big bet by commodity traders for 2026. The widely-used industrial metal, widely used in power, construction as well as manufacturing, is gained 3.2% last week and is up more than 35% in 2025.
Rakesh Bansal, founder of RKB Ventures believes that supply constraints and demand from AI, electrification, EVs and the energy transition could push copper into what he calls a fresh multi-year run.
"COPPER is the NEW KING that's about to EXPLODE! Supply shortages + AI data centres + EVs + green energy boom = Copper prices set to rally beyond imagination. Now it's Copper's turn to make millionaires," he wrote on X.
Goldman Sachs has forecast the price of copper to consolidate in 2026 and average $11,400 per metric ton under its base case that uncertainty over tariffs will linger until a possible announcement in mid-2026 that the U.S. will implement tariffs on refined copper in 2027.
The bank expects copper to outperform aluminium in 2026 as China's overseas push for critical metals boosts aluminium production. Benchmark three-month copper on the London Metal Exchange last hit a record high of $11,952.
"Despite the recent rally in copper prices and our expected consolidation in 2026, it remains our 'favorite' industrial metal, especially in the long-run, as electrification - which drives nearly half of copper demand - implies structurally strong demand growth and as copper mine supply faces unique constraints," Goldman Sachs said in a note on Thursday, reiterating its $15,000 a ton forecast for 2035.
