Short-Term Skepticism Persists Despite Copper's Explosive Start

Benzinga_recent_news01-06

Copper started 2026 right where it dropped off, rallying above $13,000 a ton on the London Metal Exchange (LME). Equities rallied with Southern Copper Corporation (NYSE:SCCO) closing 3.83% higher at ...

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Short-term skepticism remain.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","LU0345781412.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) INC","SG9999002521.SGD":"United Global Resources A Acc SGD","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","LU0630314457.HKD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (HKD) ACC","IE00BZ9MQY76.HKD":"FTGF CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (HKD) ACC","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU2462611646.USD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (USD) INC MTI","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU0612318385.USD":"BGF NATURAL RESOURCES \"A2\" (USD) ACC","LU0505663152.USD":"abrdn SICAV I - FUTURE MINERALS \"A\" (USD) ACC","LU2498475776.HKD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (HKD) INC","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","LU0572108347.SGD":"Blackrock Latin American A2 SGD-H","BK4585":"ETF&股票定投概念","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0050427557.USD":"富达拉丁美洲基金","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","LU0788109121.HKD":"BGF WORLD MINING \"A2\" (HKDHGD) ACC","SCCO":"南方铜业","LU0278409577.USD":"MANULIFE GLOBAL FUND-GLOBAL RESOURCES FUND \"AA\" (USD) INC","LU0072463663.USD":"Blackrock Latin American A2 USD","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU0132412106.USD":"abrdn SICAV I - EMERGING MARKETS EQUITY \"A\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0075056555.USD":"贝莱德世界矿业基金A2","LU1430597077.USD":"BGF NATURAL RESOURCES \"A\" (USD) INC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU0345780950.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU1883866441.USD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (USD) ACC","BK4566":"资本集团","LU0654597011.USD":"BGF NATURAL RESOURCES \"A4G\" (USD) INC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU0788109048.HKD":"BGF LATIN AMERICAN \"A2\" (HKDHGD) ACC","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","BK4588":"碎股","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","LU0612318971.USD":"BGF NATURAL RESOURCES \"A5G\" (USD) INC","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","BK4015":"铜","FCX":"麦克莫兰铜金"},"translate_title":"尽管铜价开局爆炸性，但短期怀疑情绪依然存在","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FCX":1,"SCCO":1},"content_text":"Copper started 2026 right where it dropped off, rallying above $13,000 a ton on the London Metal Exchange (LME).  Equities rallied with Southern Copper Corporation (NYSE:SCCO) closing 3.83% higher at $154.39, while Freeport-McMoRan, Inc. (NYSE:FCX) gained 4.78%, ending Monday at $54.41.\nThe red metal gained more than 43% in 2025. It was the best performance since 2009, as supply concerns and trade-related dislocations tightened availability across global markets.\nPersistent disruptions have recently plagued key global operations. Issues at Grasberg in Indonesia and Kamoa-Kakula in the Democratic Republic of Congo eroded what little buffer supply side had. Those concerns carried into the new year and were amplified by a strike at Chile's Mantoverde mine, which helped reignite speculative interest. Beyond individual disruptions, analysts point to deeper structural issues.\n\"Years of underinvestment and ongoing mine disruptions have left the market with little buffer, while tariff policy uncertainty and stockpiling are intensifying the squeeze on available metal,\" Ewa Manthey, commodities strategist at ING, said, according to the miningmx. She noted that supply growth has struggled to keep pace with demand from electrification, data centers, and the energy transition.\nDespite the bullish start to the year, a multinational research firm, BMI, has maintained its 2026 average copper price forecast at $11,000 per ton. According to MiningWeekly, the firm argues that while tightening supply and positive sentiment linked to net-zero sectors will continue to support prices, several macroeconomic factors are likely to cap upside potential.\nBMI points to the US dollar index in particular, which it expects to trade broadly between 95 and 100.\n\"A move to slightly stronger levels is not ruled out, particularly if the US economy outperforms, which, in turn, will cap the upside potential for copper prices,\" the company said.\nBMI is also cautious on the demand outlook. While electric vehicles and renewable energy are expected to anchor consumption, the firm forecasts a slowdown in Chinese growth in 2026. They expect the real GDP expansion to ease from 5% in 2025 to about 4.5%. Ongoing weakness in China's property sector remains a headwind, limiting the pace at which demand can accelerate.\nStill, while the short-term outlook is subdued, BMI acknowledges that, in the long run, a deficit will occur.\nThe company projects copper prices reaching $17,000/t by 2034 as structural deficits persist. Rapid growth in electrification, renewable power, and electric vehicles is expected to outstrip new supply additions. Thus, the trend reinforces copper's role as a critical element in the energy transition.\nPrice Action: Northisle Copper and Gold Inc. (OTC:NTCPF), a junior miner from Benzinga's 2026 watchlist, closed 12.59% higher at $2.150.\nRead Next: \nPhoto via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.1","shortVersion":"4.36.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2601089132","isCrawlerRequest":true}