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ANZ Group: Copper Prices May Hit Record in Early 2025 on Tariff Concerns

ANZ Group analysts Soni Kumari and Daniel Hynes forecast that copper prices could reach a record high early next year, driven by US tariff concerns, supply challenges, and resilient global demand. Speculation of US tariffs on copper imports has boosted flows into the US, supporting prices, while EV and renewable infrastructure investment lifts demand and South American supply faces pressure.

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