According to the Huatai Securities Research Report, in 2026, global electrolytic copper supply is expected to remain limited, with a year-on-year increase of 660,000 tons, an increase of 2.4%; global demand for electrolytic copper is driven by US warehouses and power grid construction, with a year-on-year increase of 930,000 tons, a growth rate of 3.3%; as a result, supply and demand may shift from excess to shortage, compounded by factors such as overseas inflation and marginal liquidity easing, the copper price center may rise significantly year on year. In the medium to long term, global technological progress is compounded by recovery in overseas manufacturing, and demand for electrolytic copper may remain high from 2026 to 2028 under multi-cycle resonance; however, supply constraints are strong, and global supply and demand are predicted to remain scarce. Copper prices are expected to hit more than $15,000 per ton during this period.

According to the Huatai Securities Research Report, in 2026, global electrolytic copper supply is expected to remain limited, with a year-on-year increase of 660,000 tons, an increase of 2.4%; global demand for electrolytic copper is driven by US warehouses and power grid construction, with a year-on-year increase of 930,000 tons, a growth rate of 3.3%; as a result, supply and demand may shift from excess to shortage, compounded by factors such as overseas inflation and marginal liquidity easing, the copper price center may rise significantly year on year. In the medium to long term, global technological progress is compounded by recovery in overseas manufacturing, and demand for electrolytic copper may remain high from 2026 to 2028 under multi-cycle resonance; however, supply constraints are strong, and global supply and demand are predicted to remain scarce. Copper prices are expected to hit more than $15,000 per ton during this period.