Deutsche Bank: Copper to Hit $22,050/Ton by Q2 2027 on Severe Shortage

The notable shift here is the framing: Deutsche Bank is describing scarcity as a liquidity problem rather than a demand story, which changes which signals matter. If availability, not consumption, is driving pricing, then inventory and near-term supply access become the key indicators to track. The bank's own path implies the tightness is expected to ease later in the decade, so whether the squeeze proves structural or cyclical is the open question — and that distinction matters for anyone exposed to copper-linked RWA products.