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Industry - Commodity Price Forecasts - Commodity Price Forecasts

Best Price Guarantee Length Publisher Published Date SKU
from $285 20 Pages Oxford Economics July, 2025 OFE20204936
Best Price Guarantee
Price from $285
Length 20 Pages
Publisher Oxford Economics
Published Date July, 2025
SKU OFE20204936

US copper prices have surged to record highs as traders redirect material to the US exchange following President Trump's announcement that copper imports will face a 50% tariff from 1 August. Despite the current tightness, the global copper market remains in surplus, and we expect that prices will pull back in Q4 and Q1 when the market gets clarity.


Global: Copper prices hit record high but will fall back
Oil Overview
A slight upgrade for oil
We continue to expect a surplus
Still no relief for gasoline consumers
WTI draws closer to Brent
Rig counts to continue downward trajectory
Gas Overview
Minor upgrade on geopolitical risk
Regional differences
LNG remains in focus
Iron and Steel Overview
Bearish iron ore outlook
Weaker steel demand due to tariffs
Base Metals Overview
Copper prices surge on tariff threat
Precious Metals Overview
Gold stabilising amidst tensions
Silver and PGMs outlook rising
Battery Metals Overview
Price recovery to proceed slowly
Agricultural Commodities Overview
Food price forecasts lowered
Weak demand to hit lumber and cotton
Risks
US tariffs
Middle East tensions
Russia-Ukraine war
Macroeconomic risks
Resource nationalism

$285
$713

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